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Published on Wednesday, October 28, 2015

LatAm Daily | Further fiscal deterioration in Brazil

The government eased its 2015 fiscal target due to lower than expected public revenues, problems in cutting expenditure and the decision of its court of audit to reverse certain creative accounting practices. As a result, the public sector could post a primary deficit of up to 1.7% of GDP. The decision could trigger a sooner than expected second downgrade to high-yield.

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