November 30, 2016 8:40 AM

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Brazil: Senate approves drastic ceiling on federal spending in first-round vote

Brazil's Senate approved a drastic ceiling on federal spending in a first-round vote. By 61-14 votes, the Senate backed a constitutional amendment that limits federal spending, with the exception of health, education and debt payments to the rate of inflation for 20 years. <br/><br/>There is an option for a presidential revision after 10 years. It is expected to clear a second and final vote on 13th of December. Earlier, riot police fought an angry crowd of demonstrators outside the Congress as the lawmakers prepared to vote on austerity measures for the Latin America's biggest economy.

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