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Brazil Congress approves smaller cut to 2016 fiscal goal
December 17, 2015 / 3:01 PM / in 2 years

Brazil Congress approves smaller cut to 2016 fiscal goal

BRASILIA, Dec 17 (Reuters) - The Brazilian Congress on Thursday approved a reduction of the country’s 2016 fiscal savings target, but ditched a request by President Dilma Rousseff for a steeper cut that raised questions about her commitment to close a widening deficit.

Most lawmakers in a joint-session of Congress voted for a fixed target of 0.5 percent of the gross domestic product without the option of deducting investments and other expenditures.

Reporting by Marcela Ayres; Writing by Alonso Soto; Editing by Chizu Nomiyama

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