LatinNews Daily - 26 May 2026

*Brazil’s finance minister, Dario Durigan, and minister for budget and planning, Bruno Moretti, announced that the government will freeze R$22.1bn (US$4.4bn) of the discretionary spending in its 2026 budget, which will be implemented by decree on 29 May. This follows the decision taken in March by the government led by President Luiz Inácio Lula da Silva to freeze R$1.6bn of its annual budget. In a 22 May press conference the officials explained that the decision to make another budget freeze was mainly due to considerations such as increases in social spending in recent months, including an additional R$14.1bn allocated for the Benefício de Prestação Continuada (BPC), a social benefit to assist people with disabilities or people above the age of 65 who are unable to support themselves financially, as well as a further R$11.5bn for other social security programmes.