LatinNews Daily - 10 November 2020

*Brazil’s Vice President Hamilton Mourão has said that “everything indicates that the [2021] budget isn’t going to be voted on this year”, confirming the view previously expressed by the president of the chamber of deputies, Rodrigo Maia. Speaking during a videoconference organised by Itaú bank, Mourão evoked the paralysis in congress, in part due to the coronavirus (Covid-19) pandemic, which is causing delay in the setting up of the mixed budgetary committee to debate the draft budget tabled by the federal government. Mourão does not expect the 2021 national budget to be approved by the legislature before next April, limiting the government’s spending capacity in the first months of the year, and, in Mourão’s view, leading Brazil to be downgraded by credit rating agencies.

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