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Reuters
Reuters
Business

Brazil's Lula needs minimum $29 billion waiver from spending cap to meet campaign promises, says aide

FILE PHOTO: Brazil's President-elect Luiz Inacio Lula da Silva attends a meeting at Belem Presidential palace in Lisbon, Portugal, November 18, 2022. REUTERS/Rodrigo Antunes/File Photo

The transitional government of Brazil's President-elect Luiz Inacio Lula da Silva hopes to obtain Congress approval for a minimum 150 billion reais ($29 billion) waiver from the constitutional spending cap in order to be able to meet campaign promises, said on Friday congressman Reginaldo Lopes.

Lopes, the leader of Lula's Workers Party in the Lower House, was speaking to reporters in Brasilia.

($1 = 5.2250 reais)

(Reporting by Bernardo Caram; Editing by Raissa Kasolowsky)

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