March 22, 2017 / 9:38 PM / 6 months ago

Brazil to revise budget freeze next week -Meirelles

BRASILIA, March 22 (Reuters) - Brazil’s government will revise its estimates for a budget freeze this year by Tuesday as it expects favorable court decisions by then to result in additional revenues, Finance Minister Henrique Meirelles said on Wednesday.

The government earlier in the day announced a budget freeze of 58.2 billion reais ($18.86 billion), but Meirelles said that the final number will be “substantially smaller” because of potentially favorable court decisions in coming days.

He added that he sees a large possibility of a tax increase to help cover the budget shortfall.

$1 = 3.0861 reais Reporting by Marcela Ayres; Writing by Silvio Cascione; Editing by Sandra Maler

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