Brazil Needs Congress to Fix $33 Billion Budget Gap, Haddad Says

Brazil is on track to balance its budget next year if congress does its part to help raise the 168 billion reais ($33 billion) in revenues necessary to hit that target, Finance Minister Fernando Haddad said in an interview.

Haddad has spent the last month pushing legislative leaders to approve a series of measures to raise revenue, after President Luiz Inacio Lula da Silva in August unveiled a 2024 budget proposal that seeks to boost spending by 129 billion reais while also delivering on Haddad’s promise to zero Brazil’s primary budget deficit next year.