RIO DE JANEIRO, BRAZIL - Reuters reports that two sources said on Monday that the Brazilian government plans to freeze a further R$5 (US$1.22) billion in spending as part of a periodic budget review, adding that official GDP growth estimates will be cut to 1.6 percent for 2019.
Brasília will unveil its second bi-monthly report on federal revenue and expenditure on Wednesday, with a fresh round of spending freezes needed because the country's stagnant economy is reducing government revenues.
By law, the government must review its accounts every two months, specifying . . .