BRASILIA, March 22 Brazil's government lowered
its estimate for economic growth in 2017 to 0.5 percent from 1.0
percent previously, the Finance Ministry said on Wednesday, in a
revision that is expected to lead to budget freezes and tax
hikes later in the day.
The government is expected to announce spending freezes of
30 billion reais to 35 billion reais ($9.7 billion to $11.31
billion) and raise taxes later on Wednesday as it seeks to meet
its 2017 budget deficit target.
(Reporting by Marcela Ayres; Writing by Silvio Cascione)