LatinNews Regional Monitor: Brazil & Southern Cone - 01 May 2020

* Brazil’s central bank (BCB) has posted the latest fiscal results, which show that the primary deficit has deepened. Brazil’s public sector accumulated a R$23.7bn (US$4.32bn) primary deficit in March, up from R$20.9bn in February and R$18.6bn in March last year. The overall deficit was driven by the central and state governments (which recorded a R$21.4bn and R$2.7bn deficit, respectively), while state companies posted a R$405m surplus. In the 12 months to March, the primary deficit stood at R$63.5bn and the nominal deficit, which includes primary deficit and nominal interest rates, totalled R$457.9bn, equivalent to 6.22% of GDP.

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