Brazil May Miss Its 3.1% Primary Surplus in 2013, Folha Reports

Brazil may miss its primary surplus target next year as tax collection won’t expand at a sufficient pace even with 4 percent economic growth, Folha de S.Paulo said, citing unidentified government officials.

The government won’t cut investments or raise taxes to achieve its primary surplus target of 3.1 percent of gross domestic product in 2013, the newspaper reported. Brazil has room to reduce the target as its debt is under control, according to Folha.

The primary surplus excludes interest payments.

To contact the reporter on this story: Francisco Marcelino in Sao Paulo at mdeoliveira@bloomberg.net

To contact the editor responsible for this story: Dale Crofts at dcrofts@bloomberg.net

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