March 22, 2017 / 9:13 PM / 8 months ago

Brazil announces hefty spending cut to meet 2017 budget goal

BRASILIA, March 22 (Reuters) - Brazil’s government will freeze 58.2 billion reais (US$18.84 billion) in spending this year to meet its budget deficit target, it said in a statement on Wednesday.

The statement did not mention any tax increases.

$1 = 3.0895 reais Reporting by Marcela Ayres; Writing by Silvio Cascione

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