Weekly Report - 17 January 2019 (WR-19-02)

BRAZIL | Bolsonaro approves budget. President Jair Bolsonaro signed off on Brazil’s 2019 budget on 16 January. The R$3.38tn (US$900bn) budget was put together by the administration of former president Michel Temer (2016-2019) and approved by the outgoing senate and chamber of deputies in a joint session on 19 December. The budget maintains a target of R$139bn (US$37bn) for the fiscal deficit and allocates R$1.42tn (US$378bn) to refinancing public debt and paying off interest and other obligations.