Brazil Expects Increased Budget Deficit

The Brazilian government has revised its primary budget deficit forecast for 2020 to BRL 787.4 billion ($154 billion) from a previous BRL 540.5 billion, Reuters reported.

Public revenues are expected to steady at BRL 1.2 trillion.

Meanwhile, primary spending is forecast to increase by BRL 229.3 billion to BRL 1.98 trillion due to increased expenditure to face the impacts of the COVID-19 crisis.