Government delays announcement of budget cuts

From Agência Estado — President Dilma Rousseff has delayed to March the announcement of a cut on the government budget and market observers believe the final proposal would not be enough to meet the deficit goal of 0,5%. Sources say there are considerations the cuts would hinder social programs, and deepen the economic recession. To reach the goal the budget cuts had to be around BRL 50 – 60 billion. But meanwhile, she will be trying to push forward a new tax plan in the Congress to approve the CPMF, a tax to be levied over financial transactions.

O Estado de São Paulo – SABI (Abstracts)
12 February 2016
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Emerging Markets Insights

a blog by Frontier Strategy Group

longandvariable

A blog on macroeconomics and public policy by Tony Yates.

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