Brazil’s extraordinary revenues, especially in the second half-year, will cause the country’s Central Government—comprising the National Treasury, the Social Security System, and the Central Bank—to close out 2019 with a primary deficit of $19 billion, Economy Minister Paulo G
President Michel Temer, Finance Minister Henrique Meirelles, and Planning Minister Dyogo Oliveira will hold a final meeting this Monday (Aug. 14) to decide how much the government is going to widen the primary deficit target for 2017 and 2018.
Brazil registered the biggest primary deficit in history for the first quarter of the year. According to figures released Wednesday, the result was a negative $18.6 billion from January to June, compared to a deficit of $11.57 billion in the same period last year.
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