Aug 20 2013
After this summer’s massive protests against spending choices by the once-popular government, Brazilian President Dilma Rousseff has passed a law that will reserve all of Brazil’s oil royalties for healthcare and education.
The new law stipulates that 75 percent of royalties will go to education while another 25 percent will be for health care. The amount of royalties expected over the next year is projected to be about $800 million.
“For me and my government education is the principal pillar to transform Brazil into a great nation, assuring that our people are freed from poverty,” Rouseff said about the new law.