Friday, April 16, 2021

Congress approves Budget 2021 project; text goes to presidential sanction – Prime Time Zone

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In the Chamber of Deputies, the proposal received 346 votes in favor and 110 against, while in the Senate, the score was 60 to 12 with one abstention

Luis Macedo / Chamber of DeputiesSession on Thursday rejected highlights and approved the same text sent last week by the Senate

THE National Congress approved the basic text of the budget proposal 2021 (PLN 28/20). The approval came after two voting sessions held in the afternoon and on the evening of this Thursday, the 25th. During the day, the project had already been approved by the Joint Committee on Budgets (CMO). On Chamber of Deputies, the proposal received 346 votes in favor and 110 against, while in the Senate, the score was 60 to 12 with one abstention. The proposal’s general rapporteur, senator Marcio Bittar (MDB-AC) made a series of adjustments to the text sent by the Executive and defined as a fiscal goal a deficit R $ 247.1 billion for the central government (Treasury, Central Bank and Welfare). In order to guarantee the approval of his opinion, the senator reallocated R $ 26.5 billion for parliamentary amendments. With Congressional approval, the proposal will go to the President’s sanction Jair Bolsonaro (without party). Originally, the project should have been voted on in 2020, but political stalemate in the installation of the CMO and the pandemic of Covid-19 delayed work.

Appropriations reserved by the Executive in the original text to settle social security benefits, salary credit e unemployment insurance were cut this Thursday, with cancellations totaling R $ 23.5 billion. Altogether, the Ministry of Regional Development it’s the National Health Fund benefited from the changes, receiving R $ 10.2 billion and R $ 8.3 billion, respectively. The Executive has pledged to make adjustments through the opening of extraordinary credits that will try to recompose cuts in health, education and Census, which will be carried out by the IBGE. Of the amount redeemed, approximately R $ 16.4 billion is still subject to the approval of a supplementary credit to circumvent the “golden rule”. However, the proposal will only be submitted after the budget has been sanctioned.

Revenues were estimated at R $ 4.324 trillion, showing an increase in R $ 32.2 billion compared to the original text. Expenses were fixed at R $ 2.576 trillion, in addition to debt refinement and state-owned companies. The spending ceiling is R $ 1.486 trillion, and, due to expenditures in 2020 that will be paid now and others in 2021 that will remain for 2022, the practical ceiling will be R $ 1.480 trillion. It is worth mentioning that the approved text considers the minimum wage as a value of R$ 1.067, since, since January, the value has been R$ 1.100. Social Security and Social Assistance Benefits (BPC), unemployment insurance and wage allowance are within the spending ceiling.

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