Brazil to announce 2014 fiscal goal on Thursday, finmin says

BRASILIA Wed Feb 19, 2014 2:35pm EST

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BRASILIA Feb 19 (Reuters) - The Brazilian government will announce a long-promised spending freeze and a new 2014 primary budget surplus target on Thursday, Finance Minister Guido Mantega said on Wednesday.

The primary budget surplus target, a gauge of the country's fiscal discipline, is crucial in the efforts of President Dilma Rousseff to recover credibility in the eyes of investors.

The primary budget surplus is a measure of net revenue before the payment of interest on debt.

The Rousseff administration is leaning in favor of a target less than 1.9 percent of gross domestic product, but a final decision has not yet been made, two government officials have told Reuters.

The government hopes this goal, smaller than in previous years, would convince investors the administration is being more realistic about a fiscal target that it has failed to meet in the last two years.

A couple walks along the rough surf during sunset at Oahu's North Shore, December 26, 2013. REUTERS/Kevin Lamarque

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