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Brazil’s IBGE, National Treasury and Central Bank reported that the federal government had a net operating loss of BRL 512.2 billion in 2015. In 2014, the deficit had been equivalent to 4.9% of GDP.

Revenue slid year-on-year in April due to good sales in April of last year, the fact that April this year had less business days, and the Federal Police bribery probe Operação Carne Fraca, an industry association said.