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14 May 2010
BRASIL: Spending Cut By $5.7 Billion...To Cool Demand.
BUSINESSWEEK/ Finance Minister Guido Mantega says the government will cut spending by $5.7 Bn to cool the economy but it will not affect social programs or infrastructure. Inflation has exceeded the government’s goal of 4.5% every month this year. The $5.7 Bn cut announced is in addition to a 21.5 billion-real cut disclosed earlier this year.