Washington, 24 May-2014, IANS: World Bank President Jim Yong Kim Friday announced the appointment of…
Rio de Janerio(NERVE) – Brazilian President Dilma Rousseff will decide on a new federal budget, Agriculture Minister Katia Abreu said.
Ministries will list their greatest priorities and the president will make an evaluation. It will not be a blind cut, Abreu said on Monday in Brasilia, Xinhua reported.
The federal budget is to be lowered to 1.2 percent of GDP for 2015 from 1.9 percent for 2014.
Brazil is going through an economic crisis. The country’s economic growth rate for 2014 is expected to be announced by the end of March and expectations are for either a very low figure or even zero or negative growth.
In the first half of 2014, Brazil registered a contraction, before a mere 0.1 percent growth rate in the third quarter.