Congress to Decide on Brazil’s 2014 Budget

By Maria Lopez Conde, Senior Contributing Reporter

SÃO PAULO, BRAZIL - The final version of the proposed federal budget (LOA) report for 2013 has cut the amount of funding provided for the Growth Acceleration Program (PAC), the government's centerpiece investment initiative, by R$3 billion. The new budget also includes a minimum wage of R$724 and a dim outlook for GDP growth in Brazil next year.

The PAC funding decrease was caused by a diversion of funds towards parliamentary . . .

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