Brazil’s New Finance Minister Aims to Shrink Swollen Budget

Paulo Trevisani – The Wall Street Journal, 01/18/2016

Brazil’s economy is mired in recession and beset by high inflation, and the remedy to both ailments is to shrink the country’s swollen budget, Finance MinisterNelson Barbosa said Monday.

Once Brazil improves its fiscal situation, after years of dismal performances, investment will increase, inflation will slow and economic growth will resume, he told reporters hours before leaving for the World Economic Forum in Davos, Switzerland.

The minister acknowledged, however, that fiscal improvement depends a lot on Congress, which has been hostile to President Dilma Rousseff’s administration since she won re-election in 2014.

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