Rousseff’s Allies in Congress Agree to Not Pass Expensive Bills

Political parties in Brazil congress allied with President Dilma Rousseff’s Workers’ Party discuss pact to not pass any bill that would weigh on budget, Congressman Ricardo Berzoini said in an interview in Brasilia * Some congressmen are worried about “the wave of expenses” awaiting a vote before elections in Oct. 2014, said Berzoini, member of budget committee in lower house * Austerity is not the right course, would reduce taxes received * “We’re being more realistic than the traditional budget committee,” Berzoini said of 2014 budget * Votes in congress can’t upset fiscal balance for the rest of this year, Jose Guimaraes, leader of Workers’ Party in the lower house, said in a statement * Bills awaiting a vote would cost 70b reais * Rousseff will meet with leaders from lower house and senate Nov. 19 to discuss promise not to pass bills that would threaten fiscal balance * NOTE: Rousseff met today with 10 leaders of her lower house allied base; also present were Finance Minister Guido Mantega, Institutional Relations Minister Ideli Salvatti, Health Minister Alexandre Padilha, and Chief of Staff Gleisi Hoffman

Before it's here, it's on the Bloomberg Terminal.