March 21, 2017 / 9:21 PM / 6 months ago

Brazil finance minister says spending freezes not decided

BRASILIA, March 21 (Reuters) - Brazil’s Finance Minister Henrique Meirelles said on Tuesday that the size of spending freezes to help cover the deficit target shortfall have not been decided yet and the need for tax increases is still under study.

Meirelles was due to announce the numbers on Wednesday. Brazil’s primary budget deficit target for this year is 139 billion reais, but deep recession has shrunk revenues and the government is expected to miss its goal by 65 to 70 billion reais.

Reporting by Anthony Boadle; Editing by Chris Reese

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