BRASILIA (Reuters) – Brazil’s primary budget deficit target for this year of 10% of gross domestic product is looking optimistic, Treasury Secretary Mansueto Almeida said on Friday, noting that tax revenue and the economic outlook could be worse than forecast.
Speaking at an online event hosted by Verde Asset Management, Almeida also said that the fiscal adjustment required to get the public finances back in line following the coronavirus crisis could take up to six years.
(Reporting by Gabriel Ponte; Writing by Jamie McGeever; Editing by Sandra Maler)
