Brazil’s government pledged Thursday to curb spending as it tries to regain the confidence of the markets, avoid a credit-rating cut and help the central bank fight inflation.
The government will freeze 44 billion Brazilian reais ($17.9 billion) already budgeted for spending this year, Finance Minister Guido Mantega said. The government also plans to have a primary surplus, which is revenue minus all spending except interest costs, of…
Excerpt from: Brazil Changes Budget
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