May 22, 2018 / 1:28 PM / 7 months ago

Brazil frees up $546 mln in 2018 spending, cuts GDP forecast

BRASILIA, May 22 (Reuters) - The Brazilian government on Tuesday freed up 2 billion reais ($546 million) worth of spending in its 2018 budget and cut its forecast for gross domestic product growth this year.

The Brazilian economy is now expected to expand 2.5 percent, down from 2.97 percent. The government also increased its estimates for net revenue by 6.064 billion reais and primary expenses by 1.423 billion reais.

$1 = 3.66 reais Reporting by Marcela Ayres; Writing by Bruno Federowski

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