Brazil's balance of trade closed out February with the highest balance for the month since the beginning of this time series, in 1989.
The social security deficit reached its worst level since 1995, when the historical series began, and stood at $47.2 billion in 2016. There was an increase of 74.5%, compared with the value recorded in the previous year, which was $27 billion.
Finance Minister Henrique Meirelles said that, if the revenue forecast proves inaccurate, the government will not refrain from considering “specific [tax] increases” to balance out public accounts and keep the deficit below the $41.5 billion predicted for the fiscal target.
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