Regret the Error

In our story on Brazil’s economy (“Joining in the carnival spirit, February 13th), we quoted economists at Itaú, a bank, as arguing that the government would have to strip out 496 billion reais, or half its total discretionary spending, to meet its fiscal-surplus target. In fact they said 49 billion reais and a quarter of its discretionary spending. Our apologies to them, and to the government. Link

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