By Lise Alves, Senior Contributing Reporter

SÃO PAULO, BRAZIL – The Brazilian government announced on Friday it was cutting federal spending by R$23.4 billion (almost US$6 billion) in the 2016 budget as the country faces one of the largest recession in recent times. The cuts were announced by President Dilma Rousseff’s economic team, Finance Minister Nelson Barbosa and Planning Minister Valdir Simão.

The largest are to be seen in the Ministries of Mines and Energy, Education and Health, despite the current Subscribe to our Premium Membership Plan. Already Subscribed? Login Here