By William Jones, Contributing Reporter
RIO DE JANEIRO, BRAZIL – The Brazilian Ministry of Finance has announced that they will cut R$44 billion (US$18.5 billion) from the 2014 budget in a strategy meant to regain market confidence through a tighter fiscal policy as Brazil's government tackles a growing public debt.
The government seems to have followed the advice of Credit Suisse analysts, who estimated last week that R$43 billion in budget cuts was the minimum amount needed to restore credibility.
Finance minister Guido Mantega announced that the cuts will allow the country’s economy’s GDP . . .
To read the full NEWS and much more, Subscribe to our Premium Membership Plan. Already Subscribed? Login Here