April 28, 2020 / 8:14 PM / a month ago

Brazil 2020 primary budget deficit heading for 8% of GDP - Treasury Secretary

BRASILIA, April 28 (Reuters) - Brazil’s government is on course to post a primary budget deficit of around 8% of gross domestic product this year and a nominal deficit, excluding interest payments, of 12-13% of GDP, Treasury Secretary Mansueto Almeida said on Tuesday.

Speaking on a live online event hosted by Banco BV, Almeida said the government will resume the drive for fiscal discipline and its reform agenda next year, and said he doesn’t think the central bank will use its new bond-buying intervention powers much. (Reporting by Jamie McGeever; Editing by Sandra Maler)

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