date:Aug 10, 2015
Thursday, after Brazils congress voted to raise the salaries of some key state workers, such as state prosecutors and police chiefs, by up to 59%, at a cost of R$2.5bn, at a time when the government is attempting to curb the countrys runaway spending.
The Brazilian planning ministry said after the vote that the proposed readjustments are incompatible with the capacity of the budget of the Brazilian state and place in risk its fiscal stability.
Investors faith in Brazil is also being undermined