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Non-Tech : The Brazil Board

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To: THE ANT who wrote (1446)	1/12/2015 5:30:34 AM
From: elmatador	of 2508

Rousseff orders ministries to cut spending by a third Brazilian President Dilma Rousseff has instructed a budget cut which affects 39 ministries, reducing their funds by a third, in order to save a figure estimated at 703 million dollars per month. The recently-elected head of state attempts to lower spending through a preventive cut, a mission to be conducted by her new Planning Minister, Nelson Barbosa. This measure will be operative until the Brazilian Congress assembles to discuss the 2015 budget bill, expected to take place on February. Local analysts considered that the cost-cutting step seeks to show the government’s intention to engage on a fiscal adjustment plan, in order to ensure a primary surplus of 1.2% following last year’s deficit. According to statements released by the Planning Ministry, the supposed temporary cut is necessary “after the uncertainty over the economy’s development, the fiscal scenario and the legislative calendar, which will reassumed its activities starting on February.” The new Economy Minister Joaquim Levy has committed to reach a primary budget surplus equal 66.3 billon Reales, a 1.2% of Brazil’s Gross Domestic Product.

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