Finance Minister Proposes Cut In Fiscal Savings Amid Struggling Economy

News: Brazilian Finance Minister Joaquim Levy has adjusted his fiscal savings goals for 2015 and 2016 amid the country's contracting economy. The minister stated that he is targeting a fiscal surplus that excludes interest payments equal to 0.15% of GDP, a sharp reduction from his original aim of 1.1%. To meet the new target, Levy will freeze an additional BRL8.6bn (USD2.7bn) in spending. 'The objective is to reduce uncertainty in the economy by announcing the target we consider achievable,...

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