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Brazil lawmakers approve spending cap in victory for Temer | Reuters

BRASILIA A Congressional committee in Brazil approved on Thursday a constitutional amendment that would limit public spending to the rate of inflation for 20 years, handing President Michel Temer an initial victory in his plan to plug a widening deficit.The lower house committee voted 23-7 to pass the proposal, which will be put to a vote in the full chamber early next week. Its approval requires two votes in the plenary of the lower house and two more in the Senate, needing a three-fifths majority in each chamber.

(Reporting by Maria Carolina Marcelino and Anthony Boadle; Editing by Daniel Flynn)

This story has not been edited by Firstpost staff and is generated by auto-feed.


Updated Date: Oct 07, 2016 03:30 AM

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