By Reuters Staff
1 Min Read
BRASILIA, May 24 (Reuters) - Brazil’s central bank will revise up its 3.5% economic growth forecast for this year towards 4%, bank president Roberto Campos Neto said on Monday, following a surprisingly strong performance in the first quarter.
In an online event hosted by private equity firm EB Capital, Campos Neto also said he anticipates a huge acceleration in Brazil’s COVID-19 vaccination program in June, and noted that inflation expectations are rising due to a mix of fiscal, political and technical factors. (Reporting by Jamie McGeever and Gabriel Ponte Editing by Chris Reese)
UPDATE 1-Brazil govt cuts 2021 budget deficit forecast to $35 bln, GDP growth boosts tax take Reuters 10 hrs ago
By Jamie McGeever
BRASILIA, May 21 (Reuters) - Brazil s government on Friday issued a brighter fiscal outlook for this year, with the growing economy set to deliver higher revenues and lower spending than previously expected, narrowing the budget deficit to 2.2% of gross domestic product.
Economy Ministry officials said an improving fiscal position is a key condition for a sustainable economic recovery, and repeated their view that government debt close to 90% of GDP makes fiscal consolidation an imperative rather than a choice.
In its bimonthly spending and revenue report, the Economy Ministry lowered its forecast for this year s budget deficit excluding interest payments to 187.7 billion reais ($35 billion), or 2.2% of GDP.
(Adds Treasury Secretary comments)
BRASILIA, Jan 28 (Reuters) - Brazil reported a record primary budget deficit of 743.1 billion reais ($138 billion) last year, the Treasury said on Thursday, as crisis-fighting expenditure saw total outgoings surge by a third and the economic slump hit revenues.
While the annual deficit was a runaway record, both in nominal terms and as a share of gross domestic product, it was below the government’s last official estimate of 831.8 billion reais and below indications from Treasury officials that it could be just under 800 billion.
The Treasury said the deficit last year was a record 10% of GDP. That was less than the 11.5% forecast by the government last month. The 2019 primary deficit was 95 billion reais.
By Reuters Staff
1 Min Read
BRASILIA, Jan 25 (Reuters) - Brazil is trying to buy as many COVID-19 vaccines as possible, and accusations it has focused its efforts on only one manufacturer are unjust, Economy Minister Paulo Guedes said on Monday.
Speaking to reporters in an online briefing after the release of tax revenue data, Guedes said it has always been the case that public health and the economy are interlinked, and for economic growth to take off Brazil must accelerate its mass vaccination process. (Reporting by Jamie McGeever and Gabriel Ponte Editing by Chris Reese)