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President Bolsonaro Hopes Changes in Energy Ministry Reach Petrobras

BRAZIL
  • Brazil’s primary budget balance is likely to show a deficit of 1.4b reais in March, according to economists surveyed by Bloomberg, compared with a surplus of 3.5b reais in prior reading. Data to be released at 1330BST/0830ET:
    • March Nominal Budget Balance, est. -15b, prior -22.5b
    • March Public Primary Budget Balance, est. -1.4b, prior 3.5b
    • March Brazil Public Net Debt % GDP, est. 57.1%, prior 57.1%
  • The recent change at the helm of Brazil’s Energy Ministry has put additional pressure on Petrobras newly-induced president José Mauro Ferreira Coelho and could potentially lead to changes in other key roles at Petrobras, newspaper O Estado de S. Paulo said, citing sources close to the matter.
    • President Bolsonaro says he hopes that changes recently made in Energy Ministry reach Petrobras, aiming that the company fulfills its social obligations, he said during a ceremony in Sao Paulo state.
  • Today, Economy Minister Guedes in Sao Paulo attending the Goldman Sachs Annual Brazil Macro Conference.
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