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Brazil's biggest economic problem is confidence: finance minister

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Brazil's new finance minister, Henrique Meirelles said in a televised interview on Sunday that the country's worst economic problem is "confidence."

[RIO DE JANEIRO] Brazil's new finance minister in a televised interview on Sunday said the country's worst economic problem is "confidence." In an interview on the Globo television network, Henrique Meirelles said the country's interim government needed to reorder government finances to help reverse Brazil's worst economic downturn in decades, but that it would not cut spending on social programs.

The network was scheduled to interview interim president Michel Temer later Sunday evening. Mr Temer took over as interim president last Thursday, after Brazil's senate voted to suspend Dilma Rousseff and try her for irregularities in the government budget.

REUTERS