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Economists Have Improving Primary Deficit Expectations in 2018 and 2019, in Prisma Report

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Economists have improved once again the calculations for the central government’s primary results (Treasury, Central Bank and Pension Plans) in 2018 and 2019, estimating even greater slack in meeting fiscal targets, according to the Prisma Fiscal report released this Thursday by the Ministry of Finance.

According to the median of the data collected up to the fifth business day of this month, the estimate changed to a primary deficit of 126.062 billion reais in 2018, on a negative balance of 131 billion reais calculated before.

The target for the year is a much bigger rhombus for the central government, of 159 billion reais.

The government has emphasized that the fiscal outcome will come better than the fiscal target, helped by billionaire resources pooled in ministries, for which the outlook remains non-execution. Last month, Treasury Secretary Mansueto Almeida estimated that the central government deficit should close 2018 at 139 billion reais.

For 2019, the projection according to the Prisma report came to be a primary deficit of 100.031 billion reais, compared to 115.504 billion reais in the survey last month. In this case, the target for the year is a negative balance of 139 billion reais.