RIO DE JANEIRO, BRAZIL - Congress' delay in establishing the Joint Budget Committee (CMO) raised a red flag among the Economic team. This has delayed the processing of the draft Budget Guidelines Law (PLDO) for 2021 and next year's Budget Law.
A member of the economic area states that Brazil has started years with no budget passed, but never without the LDO, which sets the guidelines for budget execution. There is also concern over a potential shutdown - unprecedented in Brazil.
Last week, National Treasury Secretary Bruno Funchal stated in a videoconference that the government may be forced to suspend all . . .