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Financial News: BRAZIL: Supreme Court Decision Will Require More Cost

BRAZIL: Supreme Court Decision Will Require More Cost Controls - Meirelles

12/19/2017 - 20:48:00 (RTTNews)

(RTTNews) - The Brazilian government is still discussing with the Federal Attorney General (AGU) a way to appeal against the Supreme Court injunction that suspends a decree which would have delayed a pay rise to public workers to 2019, said the country's Finance Minister, Henrique Meirelles.

According to him, if the Supreme Court upholds the preliminary decision then the government would need to think of ways to compensate around R$ 5.1 billion in additional spending next year.

"If the decision prevails, we will have to think about alternatives to control expenses and compensate for this measure," he said, adding that the Court recess would be an obstacle to a fast solution.

President Michel Temer's published the decree in October as a way to meet the fiscal target. The Brazilian Supreme Court injunction attended a request by the PSOL left-wing party.

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