Flavio Bolsonaro pledges 200 billion-real fiscal adjustment without social spending cuts if elected

Reuters, published by The Straits Times, reports that Brazilian senator Flavio Bolsonaro said on October 16 he would pursue a 200 billion-real ($39.49 billion) fiscal adjustment if elected president. He rejected media reports that his campaign was considering limits on real minimum-wage increases, automatic benefit adjustments or mandatory social spending. He said he would instead eliminate ministries, tackle mismanagement at state-controlled firms and monetize federal real estate. He faces President Luiz Inacio Lula da Silva in an October 25 runoff.