Share this story
Close X
Switch to Desktop Site

News In Brief

Brazil orders wage cuts, tax hikes to aid economy

The Brazilian government, backed by a state-of-emergency decree and Army control of the capital, imposed a tough set of wage cuts and tax increases Thursday designed to stabilize the country's crippled economy. Brasilia remained quiet, however, and there were no immediate reports of protests. President Joao Figueiredo imposed the 60-day state of emergency in the capital Wednesday to prevent opposition to the government's austerity measures.

About these ads

Follow Stories Like This
Get the Monitor stories you care about delivered to your inbox.