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.
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