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LatinNews Regional Monitor: Brazil & Southern Cone - 27 June 2019

In brief: Brazil

* Brazil’s central government has posted a primary fiscal deficit of R$14.7bn (US$3.82bn) in May, according to figures published by the economy ministry. This is up from an R$11bn deficit in May 2018. The government’s primary deficit in for the first five months of 2019 totals R$17.5bn, driven by a R$80.7bn deficit in the social security system, which was partly offset by a R$63.3bn surplus in the national treasury and the central bank. The central government’s primary deficit for the 12 months to May stands at R$125.2bn (US$32.57bn), equivalent to 1.76% of GDP. The economy ministry points out that the government target deficit for 2019 is R$139bn, equivalent to 1.92% of GDP.