Brazil's high budget deficit is not sustainable -Levy

lunes 23 de febrero de 2015 08:15 GYT

SAO PAULO Feb 23 (Reuters) - Brazil's overall budget deficit of nearly 7 percent of its gross domestic product is not sustainable, Finance Minister Joaquim Levy said on Monday.

Speaking to investors in Sao Paulo, Levy said a decline in the country's public debt tends to favor private financing and that the government needs to find financing alternatives beyond state development bank BNDES.

(Reporting by Marcela Ayres; Writing by Alonso Soto)