SAO PAULO (Reuters) – Brazil’s government is set to announce a spending containment of 31 billion reais ($5.54 billion) and an increase in the IOF tax on financial transactions, Transport Minister Renan Filho said on Thursday.
His remarks at a highway concession auction in Sao Paulo came ahead of the expected release of the government’s bi-monthly revenues and expenses report in Brasilia, with a press conference scheduled to happen right after.
($1 = 5.5990 reais)
(Reporting by Alberto Alerigi Jr.; Writing by Andre Romani and Isabel Teles; Editing by Gabriel Araujo)
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