By Lise Alves, Senior Contributing Reporter

SÃO PAULO, BRAZIL – Minutes after the ceremony that installed Michel Temer as Brazil’s new president, part of his economic team was already submitting to Congress the 2017 budget bill that includes some privatizations, limited spending and important structural reforms like in the country’s pension system.

Yet even with the forecast of an increase in revenues and overall expansion of the economy, the bill submitted on Thursday still calls for a very high end-of-year public accounts deficit, totaling R$139.99 billion.

“The budget is realistic, conservative. It takes into . . .

To read the full NEWS and much more, Subscribe to our Premium Membership Plan. Already Subscribed? Login Here