September 22, 2017 / 5:40 PM / a month ago

Brazil frees up 12.8 bln reais in govt spending this year

BRASILIA, Sept 22 (Reuters) - The Brazilian government freed up 12.824 billion reais ($4.1 billion) in federal spending this year to avoid a potential shutdown, taking advantage of a looser budget target announced last month, the Planning Ministry said on Friday.

The government maintained its forecast for economic growth of 0.5 percent in 2017. The central bank on Thursday had upgraded its growth forecast to 0.7 percent.

The government targets a primary budget deficit of 159 billion reais in 2017. ($1 = 3.1264 reais) (Reporting by Silvio Cascione; Editing by Jonathan Oatis)

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