LatinNews Daily - 03 April 2020

* The finance secretary in Brazil’s economy ministry, Waldery Rodrigues, has outlined the expected fiscal impact of the measures taken by the federal government to contain and mitigate the impact of the coronavirus (Covid-19) pandemic. Of the R$700bn (US$133.12bn) channelled towards a response to the pandemic so far, R$224.6bn represent an actual cost for the government (equivalent to 2.97% of GDP). New public expenses will amount to R$219.3bn, while R$5.3bn will correspond to losses in revenue. This is expected to bring Brazil’s primary public deficit to R$419.2bn in 2020, equivalent to 5.55% of GDP. The initial public deficit target had been set at R$124.1bn in the 2020 budget law.

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