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10/08/2017 - 15:44hs

Market players expect wider gov’t deficit

A survey of financial institutions conducted by the Brazilian Ministry of Finance shows a primary Central Government deficit of USD 49.3 billion, up from a prior projection of USD 46.2 billion.

Brasília – The forecast from financial institutions polled by the Brazilian Central Bank regarding the Central Government (National Treasury, Social Security and Central Bank) primary deficit this year moved up from BRL 145.268 billion (USD 46,265 billion) to BRL 154.841 billion (USD 49,314 billion). A primary deficit means spending outpacing revenue, and does not include interest spending.

The forecast is from the Prisma Fiscal poll, conducted by the Finance Ministry’s Secretariat of Economic Policy. The deficit forecast for 2018 changed from BRL 129 billion (USD 41 billion) to BRL 130.527 billion (USD 41.570 billion). Both forecasts are higher than the government’s targets of BRL 139 billion (USD 44.2 billion) in 2017 and BRL 129 billion (USD 41 billion) in 2018.

*Translated by Gabriel Pomerancblum

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