Uncertainty Over Budget To Remain

October 2008 | Data Release

Brazil's fiscal dynamics continue to reflect the country's robust economic performance of late, with higher tax and oil revenues seeing the nominal fiscal deficit shrink below 2.0% of GDP this year. Looking at the 12-month nominal balance, the fiscal shortfall narrowed to 1.9% of GDP in August, suggesting that the long-term narrowing trend remains in play. This contrasts sharply with a previous shortfall of 6.2% of GDP recorded in the 12-month period ending September 2003.

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