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July Primary Budget Balance; Unemployment Data

BRAZIL
  • Brazil’s primary budget balance likely to show a surplus of 21b reais in July, according to the median estimate in a Bloomberg survey, after a deficit of 33b reais in prior reading. Central bank is expected to release numbers at 1330BST/0830ET.
    • July Nominal Budget Balance, est. -39.9b, prior -66b
    • July Public Borr. Primary DE Monthy, est. 21b, prior -33b
    • July Brazil Public Net Debt %GDP, est. 58.8%, prior 58.8%
    • Economy Ministry Budget Special Secretary to give press conference to present 2023 budget bill, 2030BST/1530ET.
  • 1300BST/0800ET: July National Unemployment Rate, est. 9.0%, prior 9.3%
  • Brazil’s Lower House and Senate have approved a provisional measure that increases the profit tax on financial institutions (CSLL) by one percentage point until the end of 2022.
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