January 14, 2020 / 2:22 PM / 8 days ago

Brazil's 2020 gross debt not expected to surpass 80% of GDP - official

BRASÍLIA, Jan 14 (Reuters) - Brazil’s 2020 gross debt is not expected to exceed 80% of the country’s gross domestic product, Waldery Rodrigues, special secretary at the Economy Ministry, told journalists on Tuesday.

Rodrigues said that level is still higher compared with the average of countries with similarly sized economies, adding this means Brazil’s drive toward fiscal austerity should continue. The country’s 2019 primary budget deficit is forecast at about 70 billion reais ($16.91 billion), he said. ($1 = 4.1391 reais) (Reporting by Marcela Ayres Writing by Ana Mano Editing by Chizu Nomiyama)

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