News / Americas

    Brazil Cutting Budget to Curb Inflation

    Brazil's Finance Minister Guido Mantega (file photo)
    Brazil's Finance Minister Guido Mantega (file photo)

    The Brazilian government says it is implementing $30 billion in budget cuts to curb rising inflation.

    Officials made the announcement Wednesday, but said the decision will not impact spending on social programs or infrastructure.  Finance Minister Guido Mantega said the government will remove all remaining stimulus packages that were put in place two years ago to counteract the global financial crisis.

    The cuts are equivalent to 1.2 percent of Brazil's total gross domestic product (GDP) for this year. Full details are expected to be released next week.

    Brazil's economy grew more than 7 percent last year.  Inflation is running at around 6 percent, above the government target of 4.5 percent.

    Last month, Brazil took steps to stop the rise in value of its currency, the real, as part of an effort to stabilize its financial system.

    The measures make it more expensive for Brazil's commercial banks to invest in the currency.  Investors have been buying the real on speculation it will continue to strengthen against the dollar.

    President Dilma Rousseff has promised to resolve the currency imbalance that is hurting some Brazilian industries that export their products.

    Brazil, Latin America's biggest economy, is now considered one of the world's major emerging economies, along with Russia, China and India.

    Some information for this report was provided by AP, AFP and Reuters.

    You May Like

    Vietnam Urges US to Lift Lethal Weapons Ban Amid S. China Sea Tensions

    US president’s upcoming visit to Vietnam underscores strength of relationship, and lifting embargo would reflect that trust, ambassador says

    What Your First Name Says About Who You Support for President

    Bobby, Betty and Curtis tend to support Donald Trump while people named Juan, Liz or Mohammad are more likely to lean toward Hillary Clinton

    South Pole Diary: In Round-the-clock Darkness, Radiant Moon Shines Like the Sun

    You hear more and see more when the moon first comes out; it’s your senses in overdrive, tuning into a new world.

    This forum has been closed.
    Comments
         
    There are no comments in this forum. Be first and add one

    Featured Videos

    Your JavaScript is turned off or you have an old version of Adobe's Flash Player. Get the latest Flash player.
    Displaced By War, Syrian Artist Finds Inspiration Abroadi
    X
    May 02, 2016 1:36 PM
    Saudi-born Syrian painter Mohammad Zaza is among the millions who fled their home for an uncertain future after Syria's civil war broke out. Since fleeing Syria, Zaza has lived in Lebanon, Egypt, Jordan and now Turkey where his latest exhibition, “Earth is Blue like an Orange,” opened in Istanbul. He spoke with VOA about how being displaced by the Syrian civil war has affected the country's artists.
    Video

    Video Displaced By War, Syrian Artist Finds Inspiration Abroad

    Saudi-born Syrian painter Mohammad Zaza is among the millions who fled their home for an uncertain future after Syria's civil war broke out. Since fleeing Syria, Zaza has lived in Lebanon, Egypt, Jordan and now Turkey where his latest exhibition, “Earth is Blue like an Orange,” opened in Istanbul. He spoke with VOA about how being displaced by the Syrian civil war has affected the country's artists.
    Video

    Video Ethiopia’s Drought Takes Toll on Children

    Ethiopia is dealing with its worst drought in decades, thanks to El Nino weather patterns. An estimated 10 million people urgently need food aid. Six million of them are children, whose development may be compromised without sufficient help, Marthe van der Wolf reports for VOA from the Metahara district.
    Video

    Video Little Havana - a Slice of Cuban Culture in Florida

    Hispanic culture permeates everything in Miami’s Little Havana area: elderly men playing dominoes as they discuss politics, cigar rollers deep at work, or Cuban exiles talking with presidential candidates at a Cuban coffee window. With the recent rapprochement between Cuba and United States, one can only expect stronger ties between South Florida and Cuba.
    Video

    Video California Republicans Weigh Presidential Choices Amid Protests

    Republican presidential candidates have been wooing local party leaders in California, a state that could be decisive in selecting the party's nominee for U.S. president. VOA's Mike O’Sullivan reports delegates to the California party convention have been evaluating choices, while front-runner Donald Trump drew hundreds of raucous protesters Friday.
    Video

    Video Kurdish Football Team Helps War-Torn City Cope

    With the conflict still raging across much of Turkey’s predominantly Kurdish southeast, between the rebel PKK and the Turkish state, many Kurds are trying to escape the turmoil by focusing on the success of their football team Amedspor in Diyarbakir. The club is increasingly becoming a symbol for Kurds, not only in Diyarbakir but beyond. Dorian Jones reports from southeast Turkey.
    Video

    Video ‘The Lights of Africa’ - Through the Eyes of 54 Artists

    An exhibition bringing together the work of 54 African artists, one from each country, is touring the continent after debuting at COP21 in Paris. Called "Lumières d'Afrique," the show centers on access to electricity and, more figuratively, ideas that enlighten. Emilie Iob reports from Abidjan, the exhibition's first stop.
    Video

    Video Pakistani School Helps Slum Kids

    Master Mohammad Ayub runs a makeshift school in a public park in Islamabad. Thousands of poor children have benefited from his services over the years, but, as VOA's Ayesha Tanzeem reports, roughly 25 million school-age youths don't get an education in Pakistan.
    Video

    Video Florida’s Weeki Wachee ‘Mermaids’ Make a Splash

    Since 1947, ‘mermaids’ have fascinated tourists at central Florida’s Weeki Wachee Springs State Park with their fluid movements and synchronized ballet. Performing underwater has its challenges, including cold temperatures and a steady current, as VOA’s Lin Yang and Joseph Mok report.
    Video

    Video Somali, African Union Forces Face Resurgent Al-Shabab

    The Islamic State terror group claimed its first attack in Somalia earlier this week, though the claim has not been verified by forces on the ground. Meanwhile, al-Shabab militants have stepped up their attacks as Somalia prepares for elections later this year. Henry Ridgwell reports there are growing frustrations among Somalia’s Western backers over the country’s slow progress in forming its own armed forces to establish security after 25 years of chaos.
    Video

    Video Documentary Tells Tale of Chernobyl Returnees

    Ukraine this week is marking the 30th anniversary of the world's worst nuclear accident, at the Chernobyl nuclear power plant. Soviet officials at first said little about the accident, but later evacuated a 2,600-square-kilometer "exclusion zone." Some people, though, came back. American directors Holly Morris and Anne Bogart created a documentary about this faithful and brave community. VOA's Tetiana Kharchenko reports from New York on "The Babushkas of Chernobyl." Carol Pearson narrates.
    Video

    Video Nigerians Feel Bite of Buhari Economic Policy

    Despite the global drop in the price of oil, Nigerian President Muhammadu Buhari has refused to allow the country's currency to devalue, leading to a shortage of foreign exchange. Chris Stein reports from Lagos businessmen and consumers are feeling the impact as the country deals with a severe fuel shortage.
    Video

    Video  Return to the Wild

    There’s a growing trend in the United States to let old or underused golf courses revert back to nature. But as Erika Celeste reports from one parcel in Grafton, Ohio, converting 39 hectares of land back to green space is a lot more complicated than just not mowing the fairway.

    Special Report

    Adrift The Invisible African Diaspora

    More Americas News

    Olympic Flame in Brazil for a 90-Day Relay

    Flame has arrived in Brazil’s capital for 90-day relay around the country before reaching the famous Maracana Stadium in Rio de Janeiro for opening of Games on August 5

    Ex-Mexican Foreign Minister Nominated as UN Climate Chief

    Patricia Espinosa, who works as Mexico's ambassador to Germany, won high marks for presiding at annual UN climate negotiations in Cancun, Mexico, in 2010 when she was foreign minister

    Latin America Eyes Volcanoes to Fire Up Clean Development

    Mexico, Costa Rica aim to build on their position as Latin America's leading producers of geothermal power to help meet challenges they face of curbing planet-warming emissions, making their energy supplies secure

    Video Media Monitors Report Decline in Global Press Freedom

    A new report from Freedom House scoring 199 countries and territories shows global press freedom has fallen to its lowest point in more than a decade

    Video US: Journalists Around the World Never in More Peril

    State Department draws attention to detentions, alleged human rights abuses against journalists that it has previously identified as being 'censored, attacked, threatened, imprisoned, or otherwise oppressed because of their reporting'

    Key Findings of Freedom of the Press Report

    Annual Freedom of the Press report on media independence around world assesses degree of print, broadcast and digital media freedom in 199 countries and territories