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Brazil appoints new economic team

11-25-2010 13:37 BJT

Brazil's President-elect, Dilma Rousseff, sent a clear signal of stability with nominations for her economic team. She kept the incumbent finance minister and named an experienced expert to head the central bank. The incoming economic team is promising immediate cuts to budget spending.

And Brazil's Finance Minister is pledging to maintain the country's high growth rates. The future planning minister emphasized austerity in her statements, saying the next government will examine current expenditures for opportunities to make cuts.

Miriam Balchior, Brazil's Future Planning Minister said "We'll reevaluate all the important spending points so that we can improve their usage. It's possible to do more with less and that's what we will pursue over the next four years in the government of President Dilma."

Alexandre Tombini, Brazil's Future Central Bank chief said "I had long and very productive talks with President-elect Dilma Rousseff, regarding this process of selecting the future central bank chief. She told me there will be no such thing as partial autonomy, but full operational autonomy. And she expects nothing more, and nothing less, from the central bank under a dual leadership, pursuing the objectives outlined by the government, which is an inflation target of 4.5 percent."

Editor:Xiong Qu |Source: CNTV.CN

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