LatAm Daily | A smaller - but still very high- primary deficit for Brazil in 2017

The government set a -2.2% of GDP target for the primary result in 2017, which is higher than the goal for 2016 (-2.7% of GDP), and will require a freezing of expenditure in real terms and some further actions on the revenue side (privatizations, tax hikes, etc.). That is still a very high deficit, which shows that the fiscal adjustment in Brazil will be very slow.

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