SAO PAULO, Jumada I 11, 1437, February 20, 2016, SPA -- The Brazilian government Friday announced nearly $ 6 billion in spending cuts in its 2016 budget amid the country's worst recession in decades, according to AP. The announcement was made by Finance Minister Nelson Barbosa and Planning Minister Valdir Simao. The 23.4 billion real ($ 5.9 billion) cut was announced two days after credit agency Standard & Poor's downgraded Brazil's sovereign credit rating to two notches below investment grade territory on "significant political and economic challenges". The largest budget cuts were made in the Mines and Energy, Health and Education Ministries, --SPA 00:14 LOCAL TIME 21:14 GMT www.spa.gov.sa/w