The details of the new fiscal anchor that will replace the spending cap rule were presented to President Luiz Inácio Lula da Silva this Friday afternoon (17), in a meeting at the Planalto Palace with members of the federal government’s economic team. The meeting lasted just over two hours and was attended by the vice president and minister of Development, Industry, Commerce and Services, Geraldo Alckmin, and ministers Fernando Haddad (Finance), Rui Costa (Casa Civil), Ester Dweck ( Management and Innovation) and Simone Tebet (Planning and Budgeting). 
None of the authorities commented after the meeting. According to the Planalto Palace, President Lula is still going to define the next steps in the elaboration of the project and the date of publication of the same. Last Wednesday, Haddad said he did not know whether the measures will be released before or after the Monetary Policy Committee (Copom) meeting, next Tuesday (21) and Wednesday (22). In a week, Lula embarks on an official state visit to Chinaand will be accompanied by a delegation with several ministers, including Haddad himself.
The Constitutional Amendment of the Transition, which released BRL 145 billion from the spending ceiling of Bolsa Família and up to BRL 23 billion in investments if there is excess revenue, established the obligation for the government to send a complementary bill to replace the ceiling of expenses until August. The economic team, however, anticipated the submission to March to give room for the Central Bank (BC) to lower interest rates later this year and to give the Ministry of Planning time to prepare the project for the 2024 Budgetary Guidelines Law in accordance with the new rules.
Completed by the Ministry of Finance two weeks agothe proposed new fiscal framework has also been analyzed by the Planning Ministrylast week.
