Brazil: Wage Bill Moves Forward

A 48 percent minimum wage increase approved by Brazil’s Senate would tack on $6.8 billion to government spending this year and $12.3 billion next year, according to the country´s Budget Ministry. Budget Minister Paulo Bernardo Silva will recommend President Luiz Inacio Lula da Silva veto the increase should the proposal garner final congressional approval in the lower house, a ministry spokesman said.