Brazil’s Congress Waves Through $2.4bn in Off-Budget Spending

Fiscal Policy Key Facts —The vote. Brazil’s lower house approved about $2.4 billion (R$12.3 billion) in extraordinary credits. —The big piece. The largest single item is a $1.9 billion (R$10 billion) diesel subsidy running to year-end. —The relief. Another $253 million (R$1.3 billion) funds flood recovery and housing in Minas Gerais. —The mechanism. Extraordinary credits…