Brazil's Government May Cut Spending to Meet Target, Augustin Tells Estado

Brazil’s government will make “necessary adjustments” and may cut spending to meet its primary surplus target, Treasury Secretary Arno Augustin told O Estado de S. Paulo.

Spending cuts will depend on the Planning Ministry, Finance Ministry, the presidency and the cabinet of President Luiz Inacio Lula da Silva, Augustin told the newspaper.

Brazil will also seek to sell shares in other state- controlled companies after the capitalization of Banco do Brasil SA, the paper said, citing Augustin, who didn’t identify any companies by name.

To contact the reporter on this story: Laura Price at lprice3@bloomberg.net

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