Brazil cuts budget to cool economy, curb inflation
* Brazil cuts 50 billion reais from 2011 budget * Finance minister says cuts won’t hurt the economy * Gov’t says infrastructure, social programs untouched (Adds quotes, details, context, market reaction) By Ana Nicolaci da Costa and Isabel Versiani BRASILIA, Feb 9 (Reuters) – Brazil’s government unveiled budget cuts of about $30 billion on Wednesday, the minimum needed to cool an overheating economy and begin to regain credibility among investors worried about overspending. Finance Minister Guido Mantega said the “strong” cuts of 50 billion reais should sap enough money from Latin America’s largest economy to ease pressure on inflation, which is at a six-year high, and eventually allow…
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Brazil cuts budget to cool economy, curb inflation
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