Brazil's Rousseff OKs 2016 Budget, Vetoes Social Program Cuts
Brazil's Rousseff OKs 2016 Budget, Vetoes Social Program Cuts
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Brazil's President Dilma Rousseff looks on during the launch ceremony of the 'Olympic Year for Tourism' in Brasilia,
Brazil Oct. 7, 2015. | Photo: Reuters
Published 2 January 2016 (11 hours 46 minutes ago)
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Rousseff signed the budget into law but angered right-wing lawmakers by vetoing cuts to programs benefitting Brazil’s poorest families.
Brazilian President Dilma Rousseff has signed the nation’s 2016 budget but has vetoed over 50 items on the bill, including reductions to her flagship social program and a ban on state foreign financing for some projects.
The government’s official gazette, Official Journal of the Union, reported that the President signed the so-called LDO law Thursday after Congress approved the legislation last month. Months of negotitations between lawmakers on the budget were further heightened after Rousseff failed to meet deficit-reduction targets that almost led to a government shutdown.
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Rousseff, now in the second year of her second term in office, used her power of veto to reverse a congressional ban on the approval, disbursement and refinancing of existing or new loans by state development bank BNDES to help Brazilian companies fund investments outside the country.
More:
http://www.telesurtv.net/english/news/Brazils-Rousseff-OKs-2016-Budget-Vetoes-Social-Program-Cuts--20160102-0005.html
Viva Dilma Rousseff.
