Brazil Announces Cuts of R$42.1 Billion to Meet Budget Target

The measures, that do not include raising taxes, will allow government to meet the primary result target for this year, which is a deficit of R$139 billion.

By Lise Alves, Senior Contributing Reporter

SÃO PAULO, BRAZIL – The finance minister of Brazil, Henrique Meirelles, announced Wednesday, March 29th, measures that will allow the government to meet the primary result target for this year, which is a deficit of R$139 billion. With the current budget, the government is R$58.2 billion above that target.

According to Meirelles the government will have to cut R$42.1 billion from the budget and expects another R$16.1 billion from extra revenues to reach its Subscribe to our Premium Membership Plan. Already Subscribed?