Brazil's 2024 budget deficit pledge could be renegotiated, lawmaker says

The Brazilian lawmaker in charge of the government's 2024 budget is open to abandoning the pledge to eliminate next year's fiscal deficit. This echoes President Lula's recent comments that caused market unrest. The lawmaker stated that the deficit pledge could be renegotiated if there is political consensus. It is expected that the zero-deficit target proposed by Lula in April will be modified, with calculations pointing to a deficit of around 65 billion reais ($12.87 billion) in 2024. Finance Minister Fernando Haddad has not confirmed whether the target remains intact.