Brazil's Lula to announce fiscal framework after China trip

Brazilian President Luiz Inacio Lula da Silva said on Tuesday that the proposal for new fiscal rules will only be announced after his visit to China, frustrating expectations that the measures would be unveiled this week. In an interview to local news website Brasil 247, Lula said that the fiscal framework is already "mature", but it makes no sense to announce it and then travel to China.

Lula said it would be necessary to "debate and talk" about the framework in-country.