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Brazil mulls larger spending freeze along with tax hike - source
July 20, 2017 / 1:55 PM / a month ago

Brazil mulls larger spending freeze along with tax hike - source

BRASILIA, July 20 (Reuters) - Brazil is considering a larger spending freeze in 2017 as planned tax hikes to be announced on Thursday are unlikely to cover a budget shortfall, a government source told Reuters.

The government expects higher taxes on gasoline to help it raise an additional 11 billion reais this year, the source said. The government targets a budget deficit of 139 billion reais ($44.1 billion) this year before interest payments. (Reporting by Patricia Duarte; Writing by Silvio Cascione; Editing by Chizu Nomiyama)

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