Brazil Economy Could Face “Serious Difficulties” in the Second Half of the Year

Things could get worse if Congress does not approve pension reform. The new spending freeze is to be announced by the end of the month.

By Newsfeed

RIO DE JANEIRO, BRAZIL - Brazil's government will announce a new freeze on federal spendings later this month, special secretary to the Economy Ministry Waldery Rodrigues said on Thursday, blaming weak growth for stoking a budget deficit and hurting revenues.

The freeze will be announced by May 22, the date by which the government must publish its latest bimonthly report on revenue and spending, a recent addition to its policy framework designed to . . .

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