Brazil lower house approves watered-down fiscal package amendment

BRASILIA (Reuters) – Brazil’s lower house of Congress on Thursday gave its final approval to a watered-down proposal to cut public spending, part of a broader package to rein in spending that had already been poorly received by markets for being seen as too modest.

The constitutional amendment is the second proposal approved by the lower house from a total of three that form the fiscal package. All of them still needed to be analyzed by the Senate.