* Brazil’s Economy Minister
Paulo Guedes has announced that the central government’s primary deficit is projected to total less than R$80bn (US$18.97bn) for 2019, well below the R$139bn target. Speaking alongside Chief-of-staff
Onyx Lorenzoni, Guedes said that budgetary contingencies which had been implemented as a precautionary measure earlier this year would be unfrozen, giving all ministries access to their full 2019 budget allocations. This has been possible primarily thanks to a windfall from the government’s
6 November oil ‘mega-auction’, which although disappointing still brought in R$69.96bn in signature bonuses.
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