Brazil reduces 2024 spending freeze in response to investor budget worries
Brazil reduces 2024 spending freeze in response to investor budget worries
Brazil said it will cut the overall amount of its spending freeze to 13.3 billion reais ($2.4 billion) this year to meet its fiscal goal as investors become increasingly worried over public expenditures.
Brazil's primary deficit, excluding interest payments, is now at 28.3 billion reais ($5.1 billion), within the country's fiscal rules. According to numbers announced by the Planning Ministry, the economic team remains close to its tolerance range of 28.8 billion reais.
The ministry said in a note to the report that the government will block an additional 2.1 billion reais at the same time as it unfreezes 3.8 reais. Estimates of extraordinary revenues fell.
President Luiz Inacio Lula da Silva's administration had tried to close its budget by 2024. It appears now that the year in deficit within tolerance will be ended after two freezes on the budget, including an initial 15 billion reais in July.
Investors also seem hard to believe that Finance Minister Fernando Haddad is trying to strengthen public accounts, with the left-wing Lula continuing to demand more spending.
“Our numbers are good ones, that’s the truth,” Haddad said to reporters after the event Friday night in Sao Paulo. “People expected a budget out of control, and that’s not what’s happening.”
&im=FitAndFill=(700,400))
‘Automatic cars vs manuals’: Which uses more fuel?
&im=FitAndFill=(700,400))
Kuwait vs. Iran: The border incident nobody is talking about
&im=FitAndFill=(700,400))
'Flight Deck Boots': Why USS Abraham Lincoln sailors wear extremely heavy shoes
)
Netherlands to return 11th-century Chola copper plates to India during PM Modi’s visit
)
Antarctic cosmic dust proves Earth has been traversing through supernova debris for 80,000 years
&im=FitAndFill=(700,400))
'Hydraulic Arms': How the USS Abraham Lincoln pops up its emergency net
)
Eight killed, 32 injured as freight train hits bus at rail crossing in Bangkok
)
‘I won’t lie for money’: German model LizLaz exposes media plot to defame Virat Kohli
&im=FitAndFill=(700,400))
‘Robotic warfare’: How the Chengdu J-20 can rewrite the rules of aerial combat
)
Fact check: Trump caught on video taking a sneak peek at Xi Jinping’s private notebook? Clip goes viral | WATCH
)
'The sofa was clearly higher': Here's how social media reacted to Trump-Xi viral video
&im=FitAndFill=(700,400))
'Night Vision': Why the USS Abraham Lincoln bans white flashlights on deck
&im=FitAndFill=(700,400))
Top 7 most economically stable countries in world: India & Pakistan ranking will surprise you
)
Andhra CM offers cash incentives of ₹30,000 for 3rd child, ₹40,000 for 4th to reverse declining population trend
)
Bermuda Triangle Mystery 'Solved': Scientists REVEAL Structure Found Beneath Island
)
Watch | Thousands of bees ‘invade’ Trump's White House; spark ‘biblical plague’ buzz online: 'BLASPHEMERS will be dealt with - most definitely!'
)
'Will not act until divorce': Ravi Mohan makes shocking announcement after Keneeshaa Francis quits social media
)
‘Prepare for battle of Britain’: Tommy Robinson tells tens of thousands at London rally
)
Jana Nayagan release: CM Vijay takes action, asks producer to return from Cannes
)
From weapons to wheels: Sweden’s deepening ‘Make in India’ partnership
)
Trump in bonkers boast reveals he told Xi 'we spy like hell on China'
)
Cannes Film Festival 2026: Aditi Rao Hydari stuns at the red carpet in elegant green gown | See pics
)
Former UK health secretary Wes Streeting confirms bid to replace Keir Starmer as Labour leader after quitting Cabinet
)
Noida protest accused was transferred Rs 1 crore in foreign currency to his bank account
)
Jana Nayagan on OTT: Vijay’s victory renews interest in his film, streaming platforms compete to get digital rights
&im=FitAndFill=(700,400))
Does cruise control really save fuel?
&im=FitAndFill=(700,400))
Nostradamus prophecies for 2026: Bees, 7 months great war, 3 fires and more
&im=FitAndFill=(700,400))
What is the ideal car speed for maximum fuel savings?
)
Media house forced to delete story after PM Modi fact-checks misleading report on X: 'Totally false'
&im=FitAndFill=(700,400))
'Sleep Deprived': How the USS Abraham Lincoln crew survives endless night operations
)
Five Italian divers killed in Maldives cave tragedy after scuba expedition turns deadly
)
India restricts import of two types of silver bars with immediate effect
)
India's Green Mirage: Northeast is quietly losing its forest cover while India celebrates gains
&im=FitAndFill=(700,400))
Petrol vs diesel: Which car engine really saves more money in daily driving?
&im=FitAndFill=(700,400))
Indian rupee becomes Asia’s worst-performing currency- Who else is on the list?
&im=FitAndFill=(700,400))
Indians at Cannes 2026: Alia Bhatt, Urvashi Rautela, Huma Qureshi and others stun on the global red carpet
More cause for investor alarm, the government announced extraordinary credits to help combat wildfires across the country early this week. That spending will circumvent fiscal rules because it won't count in the calculation of the primary deficit, but it is still part of Brazil's total net debt, which stands at some 62 per cent of GDP.