The vote on the new fiscal framework was postponed, the rapporteur for the Desenrola bill meets with the Ministry of Finance, and the Copom meets to decide on the basic interest rate (Selic)

BRAZIL POLITICS - Report 02 Aug 2023 by Murillo de Aragão and Cristiano Noronha

With no decision on the timing of the Ministerial Reform, the vote on the new fiscal framework is no longer expected to take place this week. The postponement of the vote makes it clear that the government needs to include the PP and the Republicanos in the ministerial team. Today, the rapporteur for the Desenrola bill that proposes changes in interest on revolving credit, Deputy Alencar Santana (PT-SP), meets with members of the Ministry of Finance to discuss the merits of the text. Also today, the Central Bank (BC) Monetary Policy Committee (Copom) meets to decide on the basic interest rate (Selic), currently at 13.75% per year. The expectation is for a 25 bp reduction.

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