The market forecast for the Brazilian primary deficit in 2018 decreased to R$ 149.186 billion (US$ 46.29 billion), according to a monthly survey conducted by the Ministry of Finance. In the previous survey, analysts had expected a deficit of R$ 153.944 billion – a figure already slightly below the government’s fiscal target for 2018 (R$ 159 billion).
For 2019, the primary deficit estimate fell to R$ 119 billion, from R $ 120.960 billion in the previous survey.
Analysts have raised the forecast for this year’s revenue to R$ 1.45 trillion, from R$ 1.446 trillion last month, while the market forecast for public spending this year fell to R$ 1.364 trillion, from R$ 1.367 trillion in the previous survey.
The forecast of gross debt as a proportion of Gross Domestic Product (GDP) fell to 75.5%, from 76% in the January estimate.