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Central Govt Budget, Petrobras Board Reasserts Fuel Policy

BRAZIL
  • Brazil’s central government is expected to show a surplus of 14.1b reais in June, according to the median estimate in a Bloomberg survey with analysts, after recording a 39.4b reais deficit in prior reading. Numbers will be disclosed by National Treasury at 2:30pm and discussed in a press conference at 3pm local time.
  • Datafolha Institute and Modalmais Bank release their latest presidential poll.
  • Petrobras’s board of directors sought to reassure investors that the Brazilian oil giant will continue to set fuel prices in order to maximize profits, despite attacks from President Jair Bolsonaro. (BBG)
    • The board said in a filing Wednesday that the state-controlled company’s executives will continue to determine the frequency, size and timing of changes to gasoline and diesel prices, but will now report to the board each quarter on the price-setting.
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