LatinNews Daily - 27 November 2020

* Brazil’s economy ministry has announced that the central government – which comprises the national treasury, the central bank and social security – registered a primary deficit of R$3.6bn (US$675m) in October. This compares with a primary surplus of R$8.7bn in October 2019. The treasury secretary, Bruno Funchal, has stressed that this result, although negative, was a far cry from analysts’ projections of a R$44bn deficit in October. Revenue from the payment of taxes which had been deferred earlier this year at the start of the coronavirus (Covid-19) pandemic contributed to the better-than-expected result. The central government has accumulated a primary deficit of R$680.97bn in January-October this year, and the economy ministry expects it to close 2020 with a deficit of R$844.3bn, or 11.7% of GDP. 

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