Brazil's adjustment not merely series of tax hikes, Levy says

lunes 16 de marzo de 2015 10:04 GYT
 

SAO PAULO, March 16 (Reuters) - Brazil's ongoing fiscal adjustments are based on the reversal of costly pro-growth policies adopted in the aftermath of the global financial crisis, not simply a slew of tax hikes, Finance Minister Joaquim Levy said at an event on Monday.

He added that the recent rise in the U.S. dollar can be explained by the return to normality of the U.S. economy after years of anticyclical policies. (Reporting by Renan Fagalde; Writing by Alonso Soto and Silvio Cascione; Editing by Jeffrey Benkoe)