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Brazil announces major budget cut

Xinhua, December 1, 2015 Adjust font size:

The Brazilian government managed to achieve a budget curtailment of 12.9 billion reais (3.3 billion U.S. dollars), said Dyogo Oliveira, an executive secretary at the planning and budget ministry, on Monday.

It was the third large-scale budget curtailment the government has determined to carry out this year. The total cut to the 2015 budget has amounted to 92.4 billion reais (23.7 billion dollars).

The government is having a very hard time balancing the budget this year, and the situation in 2016 is not expected to be better as the federal budget proposal sent to the Congress featured a large deficit as well.

The curtailment is expected to have a significant impact on the government's activities. The Supreme Federal Court said the latest curtailment, which blocked 428 million reais (109.7 million dollars) from the Superior Electoral Court, may make it impossible to carry out next year's elections through electronic means. Endi