The mandatory spending cut package will be announced by Tuesday, according to Finance Minister Fernando Haddad. The final meeting with President Luiz Inácio Lula da Silva is scheduled for Monday morning, where the economic team will present the details of the proposed amendments to the Constitution and complementary law.
Haddad emphasized that only the details of the texts to be sent will be finalized in the meeting with Lula. He also mentioned that the economic team has already taken some measures to the leaders of the allied parties without disclosing the impact of these measures.
Regarding the cuts in military pension spending, Haddad stated that the savings will be a little over R$2 billion per year. He explained that the exact calculations are difficult due to data availability issues, but the impact is in that range.
The meeting between Haddad and Lula to finalize the package was postponed to Monday due to a previously extended meeting with the retail industry. In the evening, Haddad met with the ministers of the Budgetary Execution Board to determine the size of the spending cut to be announced on Friday.