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.”
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