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Brazil government unveils 12.5 bln reais extra spending: fiscal report

Kitco News

BRASILIA (Reuters) - Brazil’s government will free up 12.5 billion reais ($3 billion) for discretionary spending, the Economy Ministry said in its latest bi-monthly spending and revenue report on Friday, as it seeks to ease the pressure on departmental budgets following deep spending freezes this year.

That will come from an extra 6.5 billion reais of revenue and a 6 billion reais reduction in spending, as revealed by Reuters on Thursday. The adjustment is in keeping with the government’s goal of posting a primary deficit this year of 139 billion reais.

Reporting by Marcela Ayres; Writing by Jamie McGeever

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