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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum
GLD 375.93-1.8%Nov 14 4:00 PM EST

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To: THE ANT who wrote (70531)1/28/2011 9:11:47 AM
From: elmatador  Read Replies (1) of 217773
 
Brazil's Finance Minister rebuffs IMF

* Says Brazil's fiscal accounts are improving (Adds from graf 2)

BRASILIA Jan 28 (Reuters) - Brazil's Finance Minister Guido Mantega said on Friday that a recent forecast by the International Monetary Fund for Brazil's 2011 fiscal outlook is wrong, and that the country's public accounts are actually improving.

The IMF said on Thursday that the underlying fiscal outlook weakened more than projected in certain emerging market economies and that the deterioration of Brazil's fiscal account was "particularly pronounced." See [ID:nWALRCE7YF].

"(Their) forecast for 2011 is totally wrong," Mantega told reporters in Brasilia.

Brazil's public accounts came under pressure in 2010 as government spending in an election year outweighed monthly records in tax revenues.

The government has since promised substantial budget cuts, as it tries to create the conditions for lower interest rates, but has yet to reveal concrete figures.

(Reporting by Leonardo Goy; Writing by Ana Nicolaci da Costa; Editing by W Simon

In Portuguese:
www1.folha.uol.com.br
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