Brazil's Finance Minister Fernando Haddad announced Wednesday cuts in public spending that will allow the government to save 70 billion reais ($11.8 billion / 11.16 billion euros) over the next two years. teleSUR
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00:00The Mexican government confirmed that it will make cuts in public spending to generate savings,
00:04most of which will come from a reform of the military pension system.
00:09The Minister of Finance, Fernando Haddad, said that the measure will allow savings of
00:1470 billion real equivalent to nearly 12 billion dollars over the next two years.
00:20In the same instruction, the ministerial office confirms that the income tax exemption for
00:25those who earn up to 5,000 real or slightly more than 800 dollars.
00:31According to Minister Haddad, these measures help to fight privileges incompatible with
00:36the principle of equality and part of the objective is to guarantee that all civil servants
00:42are subject to the constitutional principle.