💨 Abstract

Brazil's President Lula da Silva is considering two fiscal packages with spending cuts totaling up to 15 billion reais ($2.6 billion) to address fiscal concerns. The packages range from 10-15 billion reais, according to government sources. The Brazilian real weakened, and interest rates rose after the announcement, and analysts suggest an amount of 30-50 billion reais may be needed to fully ease the country's fiscal issues.

Courtesy: theprint.in