Brazil's government is on course to post a primary budget deficit of 861 billion reais ($157 billion) this year, the Economy Ministry said in its bimonthly revenue and expenditure report on Tuesday, factoring in extended emergency transfers to the poor through the end of...
FILE PHOTO: Brazil's President Jair Bolsonaro talks with Brazil's Economy Minister Paulo Guedes during a ceremony to launch a program to expand access to credit at the Planalto Palace in Brasilia, Brazil, August 19, 2020. REUTERS/Adriano Machado
That is wider than the 787.4 billion reais deficit excluding interest payments that was forecast in the last report in July, but slightly below the ministry’s official forecast of a 866.4 billion reais shortfall issued earlier this month. The report outlined an expected 84.4 billion reais rise in “extraordinary credits,” which include an extra 67.6 billion reais of emergency payments over the October-December period recently approved by President Jair Bolsonaro.
Overall, the Economy Ministry raised its 2020 primary expenditure forecast by 63.6 billion reais from July’s report to 2.046 trillion reais, and lowered its net revenue forecast by 10 billion reais to 1.185 trillion reais.
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