Brazil returns to deficit in February due to deepening recession
Reuters
Published Mar 30, 2016 14:45
Updated Mar 30, 2016 15:40
Brazil returns to deficit in February due to deepening recession
BRASILIA (Reuters) - Brazil posted a primary budget deficit of 23.040 billion reais (4.4 billion pounds) in February, central bank data showed on Wednesday, erasing a hefty surplus from the previous month as a contracting economy curbs revenues and raises unemployment benefit payments.
The country had been expected to post a primary budget deficit of 10 billion reais, according to the median forecast of nine analysts surveyed by Reuters.
In the 12 months through February, the primary budget deficit rose to an equivalent of 2.11 percent of gross domestic product from 1.75 percent in 12 months through January.
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Written By: Reuters
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