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Reuters
Reuters
Business
By Lisandra Paraguassu

Brazil's Lula eyes flexible primary surplus target to replace spending cap

FILE PHOTO: Brazil's former president and current presidential candidate Luiz Inacio Lula da Silva speaks during a meeting with campaign associates for the second round of elections, in Sao Paulo, Brazil, October 3, 2022. REUTERS/Carla Carniel/File Photo

Economic advisers to Brazilian presidential candidate Luiz Inacio Lula da Silva are looking at two main ideas to replace a constitutional spending cap, including a flexible primary surplus target, two senior aides told Reuters on Friday.

Lula has resisted pressure to lay out what fiscal rules his government would follow if he is elected in an Oct. 30 runoff vote against President Jair Bolsonaro.

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