Brazil's Lula stands by finance minister but rejects spending cuts targeting the poor

- Brazil's President Luiz Inacio Lula da Silva said on Saturday he is open to analyzing Finance Minister Fernando Haddad's spending cut proposals but emphasized that fiscal adjustments would not be made at the expense of the poor.

His remarks came after Haddad said he was focused on intensifying the spending cuts agenda, citing areas like excessive public salaries and unlawful benefits. "On the contrary, they celebrate with the central bank chief in Sao Paulo. Again, those attending the celebration must be profiting from the interest rate," he said.

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