Brazil to have primary surplus in 2022: IMF

Rio de Janeiro:Brazil will manage to recover enough to register an annual primary budget surplus in 2022, the International Monetary Fund (IMF) said in a report.

However, in October 2017 the IMF had expected Brazil would manage to register a primary surplus by 2021.

Last week, the Brazilian government said it would propose maintaining the projection of primary deficit in the public accounts at 139 billion reals (about $41.1 billion) for 2019, Xinhua news agency reported. It also plans to propose primary deficits for the 2020 and 2021 budgets.

According to the IMF’s Fiscal Monitor report on Wednesday, Brazil’s debt will reach 87.3 per cent of its gross domestic product (GDP) in 2018, up from 84 per cent in 2017.

In 2019, the debt is expected to surpass 90 per cent of the GDP.

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