Brazil cuts 2015 fiscal target to a primary deficit
BRASILIA Oct 22 (Reuters) - Brazil has given up on its goal of seeking a primary budget surplus this year and instead will record a massive shortfall as a deepening economic and political crisis drags on revenues, presidential chief of staff Jaques Wagner said on Thursday.
President Dilma Rousseff was forced to slash the fiscal target before interest payments to a deficit of 50 billion reais ($12.74 billion) as tax revenues plummeted and the government struggled with efforts at extra income.
($1 = 3.9257 Brazilian reais) (Reporting by Lisandra Paraguassu; Editing by Bernard Orr)
© Thomson Reuters 2016 All rights reserved.