The expectation of the president of the Senate, Rodrigo Pacheco, is that the vote on the new framework will be completed by the end of June.| Photo: Bigstock

This week, senators are beginning to analyze the project for the new fiscal framework, approved last Wednesday (24) by deputies, with the expectation of being voted on by the end of June. The text that reaches the Senate is different from the one delivered by the government in mid-April, but which had part of the changes agreed upon by the Executive Branch.

“The proposal will be forwarded to the proper rite so that, very soon, during the month of June, we can submit a responsible fiscal regime to sanction, which will have the containment of expenses as an expression of fiscal responsibility”, said Rodrigo Pacheco, president of the Senate.

The new fiscal rule provides for the setting of limits for primary expenditure with annual readjustment following the Extended National Consumer Price Index (IPCA) and a percentage on the growth of primary revenue, discounting inflation. The text provides for a tolerance range of 0.25 percentage points more or less than the Gross Domestic Product (GDP) for defining the primary result in the draft Budgetary Guidelines Law.

The target will only be considered missed if the primary result is below the lower band of the tolerance range.