Brazil's Supreme Court permits excluding wildfire and drought spending from fiscal target during record drought.

Brazil's Supreme Court has allowed the government to exclude spending on wildfires and droughts in the Amazon and Pantanal regions from its fiscal target, amid the country's worst drought since 1950. This ruling enables the government to take necessary measures, including submitting an executive order to Congress. While exempting these expenses from fiscal calculations, they will still contribute to Brazil's already high public debt.

September 15, 2024
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