Brazilian gov't releases 1.7 bln USD to boost ministries' budget

RIO DE JANEIRO - The Brazilian government announced on Monday that they will allocate 7.12 billion reals (1.72 billion U.S. dollars) to the ministries to boost their budget.

The money was curtailed from the federal budget at the beginning of the year and will be released to the ministries, which suffered a budget curtailment of over 31 billion reals (7.5 billion dollars) this year. The amount released to each ministry will be detailed in a presidential decree due next week.

 

In addition to the amount released to the executive offices, the government will also release 146 million reals (35.4 million dollars) to the judiciary and the legislative offices.

According to the Ministry of Economy, out of the total amount, 2.15 billion reals (521 million dollars) will be applied to resources which had already been foreseen in the budget.

The government said that the resources release was made possible due to the inclusion of 106 billion reals (25.7 billion dollars) in the federal budget. The amount is expected to be raised in the large oil auction next month.




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