Brazil Slashes R$44 Billion from 2014 Budget: Daily

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 . . .

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