June 11, 2019 / 6:26 PM / 9 days ago

Brazil's budget committee approves supplementary credit of 248.9 bln reais for govt

SAO PAULO, June 11 (Reuters) - Brazil’s federal budget committee on Tuesday approved a supplementary credit worth 248.9 billion reais ($64.62 billion) to ensure the government can make payments for social programs and meet other expenses.

The bill, which is expected to be up for a vote in a joint session of Congress later Tuesday, is seen as a way to work around the fiscal “golden rule” that prevents the government from borrowing to pay for recurring expenses. The measure is a priority for the government, currently struggling to repair what most economists call an unsustainable public deficit. ($1 = 3.8515 reais) (Reporting by Gabriela Mello Editing by Jeffrey Benkoe)

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