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Rousseff “we will do whatever it takes to meet 2015 fiscal target”

Thursday, April 2nd 2015 - 07:27 UTC
Full article 3 comments
“We will carry out a huge cut” to this year’s budget, the Brazilian president pledged, adding that ”I will do everything to meet the target”. “We will carry out a huge cut” to this year’s budget, the Brazilian president pledged, adding that ”I will do everything to meet the target”.

Brazil's government will do whatever it takes to meet its 2015 fiscal target, President Dilma Rousseff said on Tuesday in an interview with Bloomberg News.

 “We will carry out a huge cut” to this year’s budget, she told the agency. “I will do everything to meet” the target, she added.

Rousseff started her second term in January with a concerted effort to avoid a credit rating downgrade after years of lavish spending failed to spur economic growth.

Highlighting the challenges she faces, data on Tuesday showed Brazil's primary budget deficit in the 12 months through February rose to 0.7% of GDP, drifting farther away from the target for a 1.2% surplus in 2015.

Rousseff's new finance member Joaquim Levy said on Tuesday that Brazil is prepared to raise taxes further if revenues are not enough to meet the target.

Rousseff told Bloomberg that spending cuts like postponing some expenditures and reducing administrative costs would account for a large part of the adjustments needed to narrow the budget shortfall.

Categories: Economy, Politics, Brazil.

Top Comments

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  • ChrisR

    “I will do everything” apart from resign and hold free and fair elections for the people to vote for who they want. DumbAss Dilma.

    Morte de Lula em 2015!

    Apr 02nd, 2015 - 11:54 am 0
  • yankeeboy

    I very much doubt she will be able cut the free money to the slum dwellers.
    I really hope there's mass civil unrest and blood in the streets as this country unravels.
    All of those effete progressive UN types crowing about the Marxists lowering poverty in SoAm will have to eat their words as (10s of ? ) millions more fall into poverty than when they started.
    I will gleefully watch as this country crumbles.

    Apr 02nd, 2015 - 01:48 pm 0
  • 313toBioBio

    2 Does the collpase in Chinese stock bubble happen at the sametime as the scenario you laid out?

    https://www.youtube.com/watch?v=15OKLCZema8 Hail Satan Sao Paulo!!!!

    Apr 07th, 2015 - 07:24 am 0
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