Brazil Poised to Post Widest-Ever Primary Budget Deficit
- Primary gap to total at least 50 billion reais in 2015
- Recession, congressional dissent frustrating fiscal efforts
Brazil in Political Stalemate Over President Rousseff
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Brazil will miss its fiscal target this year and post the widest year-end budget deficit before interest payments on record, according to the government’s chief of staff, Jaques Wagner.
The government will report a primary budget deficit of at least 50 billion reais ($13 billion), equal to 0.8 percent of gross domestic product, Wagner said Thursday. Wagner didn’t clarify whether the deficit was for the central government or the entire country, including federal, state and city budgets. The primary result is a key gauge to measure Brazil’s fiscal health.