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  HOME | Brazil (Click here for more)

Brazilian Government Cuts $13 Billion from Budgets

RIO DE JANEIRO The government of President Michel Temer announced on Wednesday a 42.1-billion-reais cut ($13.5 billion) in different budget items to balance the accounts during the crisis.

Finance Minister Henrique Meirelles said that this decision responds to the need to curb the deficit of public accounts and noted that the Government does not plan to increase taxes at the moment.

Planning Minister Dyogo Oliveira also pointed out that the cuts in the state budget will be distributed proportionally to each department.

 

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