Brazil to Liberate One-Third of Budget for Investment

(Corrects to say government will liberate one-third of annual investment amount in first paragraph.)

Brazil’s government will send a provisional measure to Congress liberating one-third of its federal budget for investment in 2013, President Dilma Rousseff said.

The government needs the measure because Congress has not yet passed the 2013 budget, Rousseff said to reporters in Brasilia. The country must make infrastructure investment “an obsession,” she said.

There is no chance Finance Minister Guido Mantega will leave the government, Rousseff said. The government intends to lift payroll taxes on more industries, she added.

To contact the reporter on this story: Carla Simoes in Brasilia Newsroom at csimoes1@bloomberg.net

To contact the editor responsible for this story: Harry Maurer at hmaurer@bloomberg.net

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