Reported about 1 year ago
Brazilian assets rallied as Finance Minister Fernando Haddad announced 25.9 billion reais in budget cuts for 2025, providing temporary relief to markets. The Brazilian real strengthened, swap rates fell, and investors welcomed the government's efforts to address fiscal concerns. President Luiz Inacio Lula da Silva approved the plan, but markets expect more actions for long-term fiscal sustainability.
Source: YAHOO