Brazil President Lula Cuts Spending by $12 Billion

Brazil's Haddad says income tax reform to be neutral, take effect in 2026
Brazilian Finance Minister Fernando Haddad said on Thursday that a reform proposed by the government to increase income tax exemptions for the middle-class will be fiscally neutral and analyzed by Congress in time for it to take effect in 2026.
Brazil to Unveil $12 Billion Spending Cut Plan, G1 Says
Brazil Finance Minister Fernando Haddad is set to unveil a long-sought plan to cut 70 billion reais ($11.8 billion) from public spending through 2026 as investors’ fiscal concerns sink assets from the currency to stocks,
Brazil President Lula Cuts Spending by $12 Billion as Investor Concerns Soar
Brazil Finance Minister Fernando Haddad unveiled a long-sought plan to cut 70 billion reais ($11.8 billion) from public spending through 2026 as investors’ fiscal concerns sink assets from the currency to stocks.
Brazil's Haddad seeks to soothe market concerns over income tax reform
Brazil's Finance Minister Fernando Haddad on Thursday sought to calm the market following a meltdown over the announcement of a reform that would increase income tax exemptions, emphasizing that the measures would be fiscally neutral and take effect only in 2026 after Congress approval.
BRAZIL: Haddad May Announce Income Tax Exemption For Earnings Up To BRL5,000/mth
"BRAZIL'S HADDAD IS EXPECTED TO ANNOUNCE INCOME TAX EXEMPTION TO THOSE EARNING UP TO 5,000 REAIS, SAYS SOURCE" - ReutersPreviously President Lula had requested studies to ensure that by the end of 2026 an income tax exemption will be applied to earnings up to 5,
Lula Agrees to Cut Spending by $12 Billion in Nod to Markets
Brazil Finance Minister Fernando Haddad has unveiled a long-sought plan to cut 70 billion reais ($11.8 billion) from public spending through 2026 as investors’ fiscal concerns sink assets from the currency to stocks.
Brazil proposes income tax reform, frustrating investors focused on spending cuts
Brazilian Finance Minister Fernando Haddad will make a televised address to the nation at 8:30 pm (2330 GMT) local time on Wednesday, the ministry said, adding he will talk about "efficient government".
Brazil’s Lula Seeks Income Tax Exemptions Along With Public Spending Cuts
Brazil President Luiz Inacio Lula da Silva has tacked on an income-tax relief measure to a long-awaited plan to cut government spending, heightening concerns about the budget deficit and sparking a selloff in the currency,
Brazil Reins In Public Spending By $12 Bn For 2025/26
Brazil on Wednesday announced a downward adjustment of nearly $12 billion in public spending for 2025 and 2026, a measure aimed at calming market jitters about the fiscal discipline of Latin America's ...
The Straits Times2d
Brazil government will be ready to announce fiscal package this week, says finance minister
BRASILIA - Brazilian Finance Minister Fernando Haddad said a fiscal package with ... to see if the measures would address concerns over Brazil's fiscal stability. "(The announcement) is now ...
U.S. News & World Report24d
Brazil's Haddad Presents Fiscal Proposals to Lula, but No Measures Announced
Brazil's Haddad Presents Fiscal Proposals to Lula, but No Measures Announced BRASILIA (Reuters) - Brazilian Finance Minister Fernando Haddad presented fiscal proposals under discussion to other ...
MercoPress1y
Brazil: Haddad congratulates Congress and STF for better S&P ratings
Brazil's Finance Minister Fernando Haddad Wednesday said that the improved outlook by the risk rating agency Standard & Poor's (S&P) was due to the harmony between the branches of government ...
BBC11mon
Brazil candidate Fernando Haddad: The man in Lula's mantle
Part of Mr Haddad's campaign strategy was to try to woo the wider electorate with promises of gradual reforms. These promises came after turbulent years in which Brazil was rocked by an increase ...
Tennis3mon
Top-seeded Beatriz Haddad Maia of Brazil reaches semifinals at Tennis in the Land
CLEVELAND (AP) — Top-seeded Beatriz Haddad Maia of Brazil beat Clara Burel of France 6-2, 6-2 on Thursday to reach the semifinals in Tennis in the Land. Haddad Maia, ranked No. 23 in the world ...
Brazil’s Real Drops to All-Time Low as Spending Cuts Fall Flat
The Brazilian real dropped to an all-time low as the government’s proposed measures to cut $12 billion in spending ...