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Economic team considers it difficult to meet the legal ceiling for expenditures in 2018

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Henrique Meirelles - Finance Minister

 

The economic area of the government believes that the main fiscal challenge this year will be to meet the cost ceiling established by law.

The limit of expenses was set at R $ 1.3478 trillion (around US $ 417,000 million), equivalent to an increase of only 3% with respect to 2017.

However, the problem is that mandatory expenses – such as retirement payments and welfare expenses with education, health, unemployment insurance, salary subsidy and maturities of civil and military functionalism – may increase above 7% this year, according to the government’s own calculations.