Government hopes to unfreeze up to R$15bn by September

Budget officials hope to unfreeze R$10 billion to R$15 billion in ministry earmarks by next September, sources say. The order could arrive on September 22, the scheduled date of the following assessment report of federal revenues and expenses for July-August. The government believes tax collections will rise above expectations, and is counting on dividends from state-owned companies. Tax receipts (excluding pension dues) were R$5 billion above projections in July, while dividends could reach R$13 billion from the R$8 billion initially budgeted. Officials are also considering other options to soften the R$34 billion budget freeze of this year.

Source: Valor Econômico

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