Brazil's Levy says government to focus on 2016 budget
RIO DE JANEIRO Oct 23 (Reuters) - Brazil will urgently focus on improving its 2016 budget to reignite growth even as a deteriorating economy depresses tax collection this year, Finance Minister Joaquim Levy said on Friday.
A deepening recession and a political gridlock have dragged down revenues, forcing the government to drop its goal of reaching a primary budget surplus in 2015. Instead, it now projects a massive deficit this year. (Reporting by Rodrigo Viga; Writing by Alonso Soto; Editing by Christian Plumb)
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