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The quest for cash turned extra pressing this month, when the federal government published a budget for 2024 that incorporates costly guarantees, like an enormous increase within the minimum wage. That has shaken investors’ confidence in Lula’s macroeconomic management, which had recently been excessive. Sports betting could eventually convey 15bn reais a year in income, stated Fernando Haddad, the finance minister. That is a tenth of what could be wanted to erase the deficit subsequent 12 months. Congress has till November to amend and vote on Lula’s decree.

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