(VOVworld) – Brazil’s government announced on Tuesday a package of economic policies focused on reducing public spending to ease Brazil’s economic crisis.

Brazil's President Michel Temer. (Photo: Xinhua/VNA)

President Michel Temer said restoring economic growth will require drastic solutions and resolving the current crisis will take a long time.

Mr. Temer said the new policies include revising the Constitution to curb public spending. He said public spending in the 1997-2015 period increased from 14 percent to 19 percent of Brazil’s gross domestic product (GDP), which is higher than the inflation rate. Brazil’s government has agreed to cut spending on health and education. Mr. Temer wants to eliminate public debt, which has reached 67% GDP. He demanded that Parliament quickly approve a target budget deficit of 48 billion USD, far higher than suspended president Rousseff's target of 27 billion USD.