Brazil's Levy sees primary gap around 1 pct of GDP this year

martes 27 de octubre de 2015 13:13 GYT
 

SAO PAULO Oct 27 (Reuters) - The Brazilian government's budget deficit before interest payments could reach the equivalent of around 1 percent of gross domestic product this year, Finance Minister Joaquim Levy said on Tuesday.

Earlier in the day, a lawmaker said the so-called primary budget deficit could be around 51.8 billion reais ($13.2 billion) this year, without taking into account money owed to state banks for the financing of some social programs.

At an event in São Paulo, Levy added that recurring expenses can still be cut more, given that the largest chunk of federal expenditures are transferred to states and municipalities. (Reporting by Aluísio Alves; Writing by Guillermo Parra-Bernal; Editing by Chris Reese)