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LatinNews Daily - 20 May 2019

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In brief: Brazil

* The R$29.72bn (US$7.26bn) budget freeze announced by Brazil’s government in March will seriously affect over 400 federal programmes, according to an analysis carried out by independent organisation Associação Contas Abertas for the national daily O Estado de São Paulo. Through its analysis of public accounts, Contas Abertas has ascertained that 140 programmes across 11 ministries will have their budget completely cut, while a further 300 will lose over 40% of their funding. The ministry of mines & energy is the most affected of government ministries, with its budget falling from R$4.7bn to R$969m (an 80% freeze). Faced with an economic slowdown, the economy ministry is expected to announce further budgetary contingency measures later this week.