Tag: Brazil budget

• Wednesday, September 30th 2020 - 09:40 UTC

  Bolsonaro hits back at accusations his government is breaking the spending cap with accounting gimmicks

  

  Brazil’s President Jair Bolsonaro hit back on Tuesday at accusations his government is using accounting gimmicks to fund a new minimum income program without breaking its spending cap, its most important fiscal rule.

• Friday, February 1st 2019 - 11:10 UTC

  Brazil's fiscal deficit in December, a challenge for Bolsonaro and the new Congress

  

  The Brazilian government posted a fiscal deficit of 41.13 billion reais (US$ 11.27 billion) in December, the third widest monthly deficit on record, the central bank said on Thursday. While it was in line with forecasts and amplified by seasonal factors, the shortfall highlights the challenge of exerting tighter control over the country's finances which new President Jair Bolsonaro has said is one of his top priorities.

• Tuesday, May 31st 2016 - 07:21 UTC

  Brazil's posts a primary budget surplus in April, because of annual income tax collection

  

  The Brazilian government posted a primary budget surplus in April well above market expectations due to a seasonal increase in tax revenues and a drop in subsidies, a senior official said on Monday. The government, which is struggling to lift the economy out of a deep recession, posted a primary budget surplus of 9.751 billion reais (US$2.72 billion) in April.

• Saturday, January 30th 2016 - 11:53 UTC

  Brazil ends 2015 with record deficits: primary, 1.88% and fiscal 10.34%, of GDP

  

  Brazil posted a primary budget deficit in 2015 of 111.25 billion Reais (roughly $27.29 billion), the biggest since the data series began in 2001, the Central Bank said on Friday. The primary budget deficit (before interest payments), equivalent to 1.88% of GDP, was more than triple the primary budget gap in 2014 (32.5 billion reais, or 0.57% of GDP).

• Friday, December 18th 2015 - 08:01 UTC

  Brazil's budget targets ignored by Congress; Finance minister could resign

  

  Brazil’s Congress on Thursday approved a 2016 budget with surplus targets lower than what Finance Minister Joaquim Levy wanted, a day after the country lost an investment-grade credit rating on concerns about fiscal restraint.

• Wednesday, December 2nd 2015 - 11:00 UTC

  Brazilian executive order to further cut budget spending

  

  Brazilian government said in an executive order published Monday in the Official Daily that it was cutting spending by an additional 11 billion reais ($2.82 billion) this year. The move is part of an effort by the government to a budget deficit target of 1 percent of the gross domestic product, a goal agreed to during the last budget review.

• Thursday, September 24th 2015 - 09:05 UTC

  Rousseff partial victory: Congress upholds vetoes cutting additional expenses

  

  Brazil's Congress on Wednesday voted to uphold most of President Dilma Rousseff's vetoes on billions of dollars in additional expenses, marking a partial victory for the president, who is fighting a weakening economy and calls for her ouster, plus a plunging currency.

• Tuesday, September 15th 2015 - 10:13 UTC

  Brazil announces measures to balance budget; it includes controversial tax on financial transactions

  

  Brazil's government announced on Monday spending cuts and tax increases totaling 65 billion Reais ($16.9 billion) as it races to close a budget deficit that led to a downgrade of the country's credit rating last week.

• Thursday, September 3rd 2015 - 07:21 UTC

  Rousseff pledges to reduce budget deficit; denies Levy was stepping down

  

  President Dilma Rousseff vowed on Wednesday to take new measures to reduce the deficit her administration is projecting for 2016, without ruling out more spending cuts and additional taxes in Brazil. The 2016 budget unveiled on Monday projected Brazil’s first-ever primary fiscal deficit, before payment of interest on the national debt, sparking controversy.

• Tuesday, September 1st 2015 - 06:36 UTC

  Brazil presents 2016 budget and Real drops to a 12-year low against the dollar

  

  Brazil's government presented a 2016 budget Monday that for the first time projects the world's seventh largest economy operating in the red, sparking worries that the country's investment grade rating will be put at risk.