http://en.mercopress.com/2012/02/16/brazil-cuts-2012-spending-to-meet-budget-surplus-and-allow-interest-rates-to-fall
Brasil will reduce its 2012 budget by $32 billion...with cuts to defense and health care... which may allow interest rates to fall.
It projects an optimistic 4.5% GDP growth...along with a 4.7% rise in inflation.
Brasil's GDP only grew by 2.7% in 2011...the 2nd slowest rate since 2003.
Some experts predict a more realistic...3.5% growth rate...for 2012.
“With lower rates, the country will grow more,” said Finance Minister Mantega (foto) said at a press conference. “It is a big cut that allows us to meet the fiscal target with ease.”
Popular Posts
- KYRGYSTAN / CANADA : 3 MPs Arrested After Violent Gold Mine Protest.
- SERBIA / LIBYA : Are Serbian Mercenary Pilots Bombing Protestors In Tripoli?
- EU / SPAIN / PORTUGAL / ITALY / GREECE : Solidarity Strike Causes Travel Misery Across the Eurozone; Clashes/Arrests/Injuries In Athens, Madrid.
- HUNGARY: 23 April UPDATE: Hungary Denies Threat To Roma After Red Cross Evacuates 277 Roma From Gyongyospata...Fearing Vigilantes.
- ITALY : Oh, No! Silvio's Spectre Returns.
- PERU: Voters Feel Like They Must Choose Between...Hitler And Darth Vader; Smears Increase Before Vote.
- AUSTIN,TEXAS: Lance Armstrong Still Under Seige For Doping Charges.
- RUSSIA / CHECHNYA : VIDEO/ FOTOS: 40 Story Grozny Skyscraper Burns.
- UKRAINE : 04 Dec UPDATE: Kyiv Girl Wins Junior Eurovision Contest; 4 Nations Will Skip Eurovision 2013.
- POLAND: C.Bank To Strengthen Zloty By Selling Euros.