Aug
31
Brazil Cuts Budget Forecast as Levy’s Goals Succumb to Reality
ByBrazil’s government forecasts a further deterioration of its fiscal accounts as the combined effects of a deepening recession and political crisis have fueled opposition to austerity measures.
The government foresees a budget deficit next year excluding interest payments of 30.5 billion reais ($8.4 billion), or about 0.5 percent of gross domestic product, Budget Minister Nelson Barbosa said in Brasilia on Monday. That contrasts to a targeted surplus of 2 percent at the beginning of the year and a revised objective of 0.7 percent announced in July…
Brazil Cuts Budget Forecast as Levy’s Goals Succumb to Reality
