Government publishes decree suspending budget block

The government published Friday (Dec. 4) a decree suspending the budget contingency (blocking) for 2015, announced on Monday (Nov. 30). It was possible to unblock the budget after the Congress passed the 2015 fiscal target revision (on Dec. 2), going from a $17.2 billion surplus to a $30.8 billion deficit, backing the government's proposal to unlock the budget.

By approving the $30.8 billion deficit target for 2015, the government can release $3.4 billion—$2.95 billion from the executive branch power and $450 million from other powers—blocked since Monday. If the block had been extended, the government would have to fail on time to pay current expenses, like water bills, electricity, telephone, rent and outsourced contracts.

Translated by Amarílis Anchieta