MNI: Fed: Policy Well Positioned To Respond To Risks

CANADA JUNE JOBS -1.4K VS FORECAST +20K, PRIOR +26.7K

MNI China Daily Summary: Friday, July 5

MNI BRIEF: PBOC Plans To Borrow Hundred Bln Yuan CGB - Press

MNI: PBOC Net Drains CNY48 Bln Via OMO Fri; Rates Unchanged

MNI: PBOC Sets Yuan Parity Lower At 7.1289 Fri; -0.35% Y/Y

MNI: BAKER HUGHES US RIG COUNT 585; OIL RIGS 479; GAS RIGS 101

EZ/UK T-Bill Calendar: Germany, France to Issue Bills Monday

EZ/UK Bond Supply Calendar: EU/UK Syndications Due Next Week

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

CORRECTED-MNI: Changing Brazil Fiscal Target Not "Plan A"

Photo by Mateus Campos Felipe on Unsplash
(MNI) BRASILIA

(Corrects deficit target in fourth paragraph)

The Brazilian government still hopes it will be able to keep to its current fiscal targets for 2024 and 2025, a senior member of the government’s economic team told MNI on Wednesday, though he added that officials were concerned by the reluctance of Congress to trim expensive legislation.

Planning and Budget Minister Simone Tebet said on Tuesday that the government could reconsider its targets, and that officials were due to receive revenue projections for 2025 on Wednesday.

But revising the fiscal target is not the government’s Plan A, the government source told MNI. A close examination of this year’s revenues will “establish a basis” for not only this year’s target but also those of subsequent years, the source said.

However the government's aim of achieving a primary deficit of zero this year and a surplus of 0.5% of gross domestic product in 2025 will require additional actions on both the revenue and expenditure fronts, the source emphasized. Measures in Congress such as a payroll relief bill, which would add to fiscal expenses, are also a risk, the source said.
BellEM Policy NewsEM ExclusiveRegionEM SourcesEM Government sectorLatAmBrazilStoryEM Fiscal
BellEM Policy NewsEM ExclusiveRegionEM SourcesEM Government sectorLatAmBrazilStoryEM Fiscal

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.