March 22, 2018 / 7:09 PM / 4 months ago

CORRECTED (OFFICIAL)-Brazil government freezes $606 mln in federal spending

(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

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