Brazil Posts First Budget Deficit Since Dec

Gerald Jeffris and Tom Murphy-The Wall Street Journal, 10/30/09

Brazil’s public sector in September posted its first primary budget deficit since December, with government accounts hurt by declining tax revenues due to the recession and large payouts to retirees.

The central bank on Friday reported a primary budget deficit for September of 5.76 billion reals ($3.33 billion), reversing an August primary surplus of BRL5.04 billion.

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