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Bonds News

Brazil raises $577 mln in second round of tax amnesty program -source

BRASILIA, Aug 2 (Reuters) - Brazil’s government raised 1.8 billion reais ($577 million) in revenue in the second round of a program granting tax amnesty to undeclared assets held abroad, a source in the Finance Ministry told Reuters on Wednesday on condition of anonymity.

The figure is a far cry from the more than 46 billion reais raised with the program’s first round last year and lags government forecasts of 3 billion reais, adding to the challenge of narrowing a huge budget deficit.

$1 = 3.12 reais Reporting by Marcela Ayres; Writing by Bruno Federowski; Editing by Steve Orlofsky

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