Brazilian Government Forecasting R$96.7B Deficit for 2016

By Lise Alves, Senior Contributing Reporter

SÃO PAULO, BRAZIL – The Brazilian government’s economic team announced this week that they are asking Congress to approve an alteration of the Budget Law for 2016 which would allow the Union to close the year with a primary deficit of R$96.7 billion.

"In this scenario of retraction, we think it’s appropriate to change the fiscal target so that the government does not pull the economy further down... so we can help the economy to stabilize and that the growth of employment and income recover faster," said Finance Minister Nelson . . .

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