Budget Cuts in Brazil Are Necessary, Lula Official Says
Rui Costa
Photographer: Andressa Anholete/BloombergThis article is for subscribers only.
Budget cuts in Brazil are necessary 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.