{"id":261804,"date":"2019-11-08T17:54:00","date_gmt":"2019-11-08T20:54:00","guid":{"rendered":"https:\/\/anba.com.br\/?p=261804"},"modified":"2019-11-08T18:08:58","modified_gmt":"2019-11-08T21:08:58","slug":"primary-deficit-to-be-narrower-than-expected","status":"publish","type":"post","link":"https:\/\/anba.com.br\/en\/primary-deficit-to-be-narrower-than-expected\/","title":{"rendered":"Primary deficit to be narrower than expected"},"content":{"rendered":"<p>Rio de Janeiro \u2013 Brazil is expected to post a primary deficit of BRL 70 billion to BRL 80 billion (USD 17-19.5 billion), which is less than the government\u2019s earlier target of BRL 132 billion (USD 32 billion), <a href=\"http:\/\/www.tesouro.fazenda.gov.br\" target=\"_blank\" rel=\"noopener noreferrer\">National Treasury<\/a>\u00a0secretary Mansueto de Almeida Junior (<em>pictured<\/em>) said this Friday (8) during the Brazil Risk Reassessment seminar at Funda\u00e7\u00e3o Getulio Vargas (<a href=\"https:\/\/portal.fgv.br\/\" target=\"_blank\" rel=\"noopener noreferrer\">FGV<\/a>) in Rio de Janeiro.<\/p>\n<p>Mansueto imputed the result to adjustments in state-run companies and the non-completion of tax recovery agreements with insolvent states, since the public sector comprises the federal, state and local governments and state-run companies. Another factor was the lowering of Brazil\u2019s benchmark Selic rate to 5%.<\/p>\n<p>\u201cThe primary deficit was expected to be about 1.8% of Gross Domestic Product (GDP). We are ending the year with a primary deficit of around 1% of GDP,\u201d the secretary said. \u201cWe have some great news when it comes to interest, because the interest paid by the public sector is plummeting. This is great from a fiscal standpoint, because since Brazil\u2019s debt is short, it shows up very quickly in the debt financing. In the next 12 months, 20% of the debt will mature and will be refinanced at lower interest rates,\u201d he added.<\/p>\n<p><strong>Translated by Gabriel Pomerancblum<\/strong><\/p>\n<div class=\"credits-overlay\" data-target=\".wp-image-261799\">Fabio Rodrigues Pozzebom\/Ag\u00eancia Brasil<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Brazil\u2019s National Treasury secretary Mansueto de Almeida said the deficit should end the year at 1% of GDP, a narrower rate than the previously forecasted 1.8%.<\/p>\n","protected":false},"author":2315,"featured_media":261799,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[91],"tags":[2812,3525,12338],"class_list":{"0":"post-261804","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-economy","8":"tag-primary-deficit","9":"tag-public-finance","10":"tag-public-sector"},"wps_subtitle":"Brazil\u2019s National Treasury secretary Mansueto de Almeida said the deficit should end the year at 1% of GDP, a narrower rate than the previously forecasted 1.8%. ","_links":{"self":[{"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/posts\/261804","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/users\/2315"}],"replies":[{"embeddable":true,"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/comments?post=261804"}],"version-history":[{"count":0,"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/posts\/261804\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/media\/261799"}],"wp:attachment":[{"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/media?parent=261804"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/categories?post=261804"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/tags?post=261804"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}