Governor of Rio Grande do Sul Submits Six-year Adjustment Plan of R$63 Billion

Of the R$63 billion (US$15.75 billion) in adjustments, R$33 billion refers to spending cuts and increased revenues, whereas R$30 billion will come from the suspension of debt payments to the federal government..

RIO DE JANEIRO, BRAZIL - According to Eduardo Leite, the governor of Rio Grande do Sul, the proposal, submitted yesterday, October 23rd, allows the state to join the Fiscal Recovery Regime (RRF) without privatizing Banrisul.

Leite delivered the plan to Economy Minister Paulo Guedes. The proposal will be analyzed by the National Treasury. Eduardo Leite said that Rio Grande do Sul may join the RRF later this year should the federal economic team approve the adjustment . . .

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