(Government corrects that it froze 2 billion reais, not 2.638 billion reais, in headline, first paragraph)
BRASILIA, March 22 (Reuters) - Brazil on Thursday froze 2 billion reais ($606 million) worth of 2018 federal spending as it cut its inflation and economic growth forecasts for the year.
In a monthly report, the government forecast expenditures of 1 billion reais related to an ongoing federal intervention in the Rio de Janeiro state. It also estimated no revenue from a plan to raise payroll taxes that has faced strong opposition in Congress.
$1 = 3.3013 reais Reporting by Marcela Ayres; Writing by Bruno Federowski
