Flávio Bolsonaro's Debt Limit Plan Sets a Bar Brazil Has Already Crossed

Flávio Bolsonaro's campaign proposed a legal debt limit that would force automatic spending cuts once Brazil's public debt tops 65% of the economy's size, adviser Adolfo Sachsida said. Brazil's debt already nears 82%, so that limit is already broken. The plan would replace Lula's 2023 budget rules, which followed a 2016 spending cap Jair Bolsonaro's government overshot by R$794.9 billion.