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By Lise Alves, Senior Contributing Reporter

SÃO PAULO, BRAZIL – The government of Brazil is expected to announce a revision in its 2015 budget on Friday from a primary surplus of R$8.74 billion to a primary deficit of between R$70-75 billion, according to the Chief of Staff’s office. The revised volume will be the largest annual deficit in history for Brazil.

“We are estimating this (deficit),” Chief of Staff Jaques Wagner told reporters on Thursday afternoon. “If additional revenues come in, great, [the deficit] will be smaller.”

Wagner, earlier in the day had announced that . . .

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