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BRAZIL: Investors Expect Gov't To Miss 2017 Fiscal Target By R$ 15 Billion

(Agencia CMA Latam) - The market forecast for the Brazilian government's primary deficit in 2017 increased to R$ 154.841 billion, according to a monthly survey by the Ministry of Finance. In July's survey, market players estimated a R$ 145.268 billion deficit by year-end.

The deficit projected in August is around R$ 15 billion above the government's target of a R$ 139 billion primary deficit and corroborates the view on a possible revision of the current objective by the Brazilian government.

For 2018, the primary deficit estimate rose to R$ 130.5 billion, from R$ 129 billion in the previous forecast, which was in line with the government's target.

In recent weeks, the market has been speculating that the government will miss the fiscal target this year and in 2018.

Finance Minister Henrique Meirelles said that the tax revenue has performed worse than expected this year and that the government should take whatever measures are necessary to re-balance the country's accounts.

by Agencia CMA Latam

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