Brazil raises primary surplus target
Brazil raises primary surplus target Brazilian Finance Minister Guido Mantega said Monday that the government will raise the primary surplus target for Y 2011 to minimize the effects of the Global financial crisis. The surplus will be raised from 117.8 to 127.8-B Reais (US$73.6 to 79.9-B), representing some 3.3% of the nation’s GDP. In the 1st 7 months this year, Brazil’s primary surplus amounted to 92-B Reais (US$57.5-B). “We are taking precautions against a possible escalation of the crisis to prevent Brazil from suffering the same fate as the affected countries,” Mantega said. “We want Brazil to continue in a … Read more