Brazil February Primary Budget Deficit Wider Than All Forecasts

The Brazilian central government’s primary budget deficit last month was wider than all analyst forecasts, underscoring the country’s fiscal challenges amid a growing economic and political crisis.

The gap, which excludes interest payments as well as municipalities and government-run companies, was 25.1 billion reais ($6.9 billion) in February, the Treasury said Tuesday. Analysts surveyed by Bloomberg forecast a deficit ranging from 6 billion reais to 20.4 billion reais following a surplus of 14.8 billion reais in January.

February’s result was the second worst on record, following December’s deficit of 60.7 billion reais.

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