"Expansionary fiscal austerity" mandated. Another reality show in the making.
ALFREDO SAAD-FILHO: This constitutional amendment, as you explained in your introduction, limits government spending in all areas by the Federal Executive, by the Legislature and the judicial system to spending this current year plus the rate of inflation for the next 20 years. This is what it is intended to do: the idea is to limit the government deficit and to provide credibility to economic policy in Brazil.
Paging the confidence fairy.
Real News Network
Brazilian President Temer Signs Constitutional Amendment Imposing 20 Years of Austerity
Sharmini Peries interviews Alfredo Saad-Filho, Professor of Political Economy at the School of Oriental and African Studies (SOAS), University of London, and formerly a senior economic affairs officer at the United Nations Conference on Trade and Development