Bloomberg News

Brazil Cenbank Cuts 2011 Budget Deficit Forecast to 2.4%

September 30, 2011

Sept. 30 (Bloomberg) -- Brazil’s central bank cut its forecast for the 2011 budget deficit to 2.4 percent of gross domestic product, from an earlier forecast of 2.5 percent, the head of the bank’s economic research department Tulio Maciel told reporters in Brasilia.

Brazil’s net debt will end the year at 38.5 percent of GDP, from an earlier forecast of 39 percent, Maciel said. The net debt to GDP ratio will fall to 37.6 percent in September, from 39.2 percent in August, partly helped by a weaker real, which increases the value of Brazil’s dollar assets in local currency, Maciel added.

To contact the reporter on this story: Andre Soliani in Brasilia at asoliani@bloomberg.net

To contact the editor responsible for this story: Matthew Bristow at mbristow5@bloomberg.net


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