Stabilising finances: Troubled Brazil targets tighter deficit

BRASILIA: Brazil will aim to tighten its budget deficit next year as it seeks to stabilise its public finances, the interim government of Latin America’s largest economy said on Thursday. Publishing his latest deficit forecast, Finance Minister Henrique Meireilles said he is aiming to haul in the budget shortfall to $41.3 billion in 2017 from $50.6 billion this year. The target will be achieved through “an effort focused on reducing spending and generating new revenues,” he said. Revenues would be generated by selling off state assets and concessions for airports and oil operations. The acting president Michel Temer has vowed to work to drag Brazil out of its deepest recession in decades.

Published in The Express Tribune, July 9^th, 2016.

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