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BRAZIL: BCB Focus Survey, August Budget Balance, Net Debt Due, Haddad Interview

BRAZIL
EM BulletBulletGlobalEmerging Market NewsRegion
  • The BCB will publish its usual weekly Focus survey at 1225BST(0725ET), followed by August budget balance and net debt figures at 1230BST. Last week, analysts raised their 2024 year-end Selic rate forecast by another 25bp to 11.50%. Meanwhile, the market expects the primary budget deficit to remain steady around BRL 21.5bn, as the nominal deficit narrows slightly from July to BRL 88.2bn. Net debt is expected to edge up to 62.1% of GDP.
    • Aug. Public Budget Primary Monthly, est. -21.5b, prior -21.3b
    • Aug. Nominal Budget Balance, est. -88.2b, prior -101.5b
    • Aug. Brazil Public Net Debt %GDP, est. 62.1%, prior 61.9%
  • On the political front, Finance Minister Haddad is due to give an interview to CBN radio network at 1230BST(0730ET).
  • In other news, the Supreme Court has ordered social media platform X to pay BRL 10.3m to lift the ban on its activities in the country, according to a court filing published on Friday.
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  • The BCB will publish its usual weekly Focus survey at 1225BST(0725ET), followed by August budget balance and net debt figures at 1230BST. Last week, analysts raised their 2024 year-end Selic rate forecast by another 25bp to 11.50%. Meanwhile, the market expects the primary budget deficit to remain steady around BRL 21.5bn, as the nominal deficit narrows slightly from July to BRL 88.2bn. Net debt is expected to edge up to 62.1% of GDP.
    • Aug. Public Budget Primary Monthly, est. -21.5b, prior -21.3b
    • Aug. Nominal Budget Balance, est. -88.2b, prior -101.5b
    • Aug. Brazil Public Net Debt %GDP, est. 62.1%, prior 61.9%
  • On the political front, Finance Minister Haddad is due to give an interview to CBN radio network at 1230BST(0730ET).
  • In other news, the Supreme Court has ordered social media platform X to pay BRL 10.3m to lift the ban on its activities in the country, according to a court filing published on Friday.