Brazil heading for almost 8% of GDP deficit this year -Treasury Secretary

BRASILIA, April 14 (Reuters) – Brazil’s government is on course to post a primary budget deficit this year of 600 billion reais ($116 billion), almost 8% of gross domestic product, due to the emergency spending and fall in revenues triggered by the coronavirus crisis, Treasury Secretary Mansueto Almeida said on Tuesday.

Speaking to reporters in Brasilia, Almeida said the government will resume its fiscal adjustment process next year and that economic reforms will be more critical than ever, otherwise the economy will struggle to grow and it will be difficult to pay the bill for these emergency measures.

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