The administration of Brazilian President Dilma Rousseff has delayed a planned budget freeze until March, the government news agency said. The government was originally due to announce the freeze, an annual event, on Friday. Typically, Brazil’s government freezes a percentage of spending during the first quarter of each year in order to guarantee compliance with annual spending limits. According to press reports, Rousseff’s Cabinet failed to reach an agreement on a freeze in time for a Friday announcement. Economists said failure to agree on a freeze could put into question the government’s commitment to 2016 fiscal goals. Currently, the government is commited to a primary budget surplus equal to 0.5% of gross domestic product.
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