Budget Cuts in Brazil Are Necessary, Lula Official Says

Rui Costa

Photographer: Andressa Anholete/Bloomberg
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Budget cuts in Brazil are necessaryBloomberg Terminal in light of President Luiz Inacio Lula da Silva’s commitment to fiscal responsibility, Chief of Staff Rui Costa told reporters Thursday after a meeting between the president and his cabinet.

Lula said he didn’t want his team to present new spending proposals but to execute those that had already been announced, Costa said.