According to the report, this year’s budget is 1.7 billion reais over the spending ceiling, indicating the government would need to find additional funds elsewhere.
While Brazil’s target for the 2023 primary deficit sits at 228.1 billion reais, Finance Minister Fernando Haddad has promised to reduce it via spending cuts and seeking new revenue streams to a deficit goal of around 100 billion reais.
($1 = 5.0033 reais)
Source: Economy - investing.com
