Brazil’s government cuts 2021 budget deficit forecast, report shows

The Economy Ministry now expects a deficit excluding interest payments of R$155.4 billion (US$30 billion) this year, or 1.8% of gross domestic product, down from R$187.7 billion, or 2.2% of GDP, in May’s report.

RIO DE JANEIRO, BRAZIL - Brazil’s government on Thursday cut its 2021 primary budget deficit forecast, based on a bi-monthly revenue and expenditure report which showed an expected jump in tax revenues on the back of stronger economic growth.

The Economy Ministry now expects a deficit excluding interest payments of R$155.4 billion (US$30 billion) this year, or 1.8% of gross domestic product, down from R$187.7 billion, or 2.2% of GDP, in May’s report.

It raised its 2021 net revenue forecast by R$43.1 billion to R$1.476 trillion and . . .

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