Tag: Brazil budget

• Thursday, July 2nd 2015 - 06:04 UTC

  Brazil's budget during May back in the red; Congress restless about austerity

  

  Brazil reported a primary budget deficit for May that was its widest for 2015, making its annual savings goal more difficult to achieve despite government efforts to raise taxes and cut spending. Central bank data showed a primary budget deficit of 6.9 billion Reais ($2.23 billion). This compared with a primary surplus of 13.445 billion Reais in April.

• Saturday, May 23rd 2015 - 06:27 UTC

  Brazil announces US$ 22.5bn spending cuts and confirms minister Levy

  

  Brazil finally announced its much expected budget resources reshuffle that will freeze 69.9 billion Reais (22.58 billion dollars) worth of spending on investment, education and health programs this year, limiting outlays in a bid to convince investors that President Dilma Rousseff is committed to saving the country's investment-grade rating.

• Thursday, May 14th 2015 - 07:30 UTC

  Brazil's austerity measures to balance the budget start moving in Congress

  

  Brazil's Congress Lower House passed a bill on Wednesday toughening access to social security pensions, the second measure approved in a week to cut benefits in a drive to reduce a growing fiscal deficit.

• Thursday, March 5th 2015 - 07:11 UTC

  Rousseff faces a revolt in Congress from her ruling coalition main ally

  

  Brazilian President Dilma Rousseff, (and her political mentor Lula da Silva), raced on Wednesday to defuse a rebellion by legislators upset about her budget austerity plans and her handling of a corruption scandal at state-run oil company Petrobras, which now threatens political stability.

• Tuesday, February 3rd 2015 - 06:49 UTC

  Brazil's nominal budget deficit far worse than expected, 6.7% of GDP

  

  Brazil's federal, state and local governments ended 2014 with a cumulative primary budget deficit equivalent to 12.51 billion dollars putting public finances in the red for the first time since the current reporting methodology was adopted in 2001, the Central Bank announced.

• Sunday, January 11th 2015 - 11:39 UTC

  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.