May 20, 2016 / 7:22 PM / 2 years ago

UPDATE 1-Brazil's Meirelles to announce key fiscal goal later on Friday

(Adds press office changing time for briefing and context)

BRASILIA, May 20 (Reuters) - Brazilian Finance Minister Henrique Meirelles will announce the government’s 2016 budget balance target at 1800 local time (2100 GMT) on Friday, his press office said.

For several days the government has been struggling to estimate the size of the 2016 primary budget deficit to set a new fiscal target and avoid a government shutdown in June.

Forecasts have ranged from 120 billion reais ($34.3 billion) to 200 billion reais, well above the previous administration’s forecast for a shortfall of 97 billion reais this year.

Two government officials told Reuters on Thursday that the primary budget deficit could be just over 150 billion reais after the government decided to exclude from its accounts the possible capitalization of embattled state power holding company, Eletrobras.

The press office had initially said the press briefing was going to be at 1730 local time.

$1 = 3.5 reais Reporting by Alonso Soto; Editing by Leslie Adler and Andrew Hay

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