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11/05/2017 - 13:40hs

Banks forecast wider primary deficit

A poll of Brazilian financial institutions conducted by the Ministry of Finance points to an expected BRL 148 billion deficit this year, a wider number than the government’s BRL 139 billion target.

Brasília – Brazilian financial institutions polled by the Ministry of Finance expect the Central Government, composed of the National Treasury, Social Security and Central Bank, to post a primary deficit of BRL 148.036 billion (USD 46.5 billion) this year. The estimate exceeds the government’s deficit target BRL 139 billion (USD 43.7 billion). The April forecast had been BRL 147.049 billion (USD 46.2 billion).

The estimate is from the Prisma Fiscal (Fiscal Prisma) survey carried out by the Secretariat for Economic Policy of the Brazilian Ministry of Finance based on projections by financial market players. The deficit expected in 2018 is BRL 125.124 billion (USD 39.3 billion), which is wider than the April forecast of BRL 123.606 billion (USD 38.8 billion).

*Translated by Gabriel Pomerancblum

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