Brazil’s New Federative Pact May Transfer R$500 Billion to States and Cities

The proposals from his economic team were submitted to Congress on Tuesday by President Bolsonaro.

RIO DE JANEIRO, BRAZIL - As a result of the changes in the so-called "federative pact", between R$400 billion (US$100 billion) and R$500 billion could be transferred to states and municipalities over the next 15 years.

The announcement was made by Economy Minister Paulo Guedes, who joined President Jair Bolsonaro in the National Congress to submit a package of three proposed amendments to the Constitution (PEC) that deal with economic reforms . . .

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