March 25, 2020 / 7:00 PM / 6 days ago

Brazil cannot deliver large crisis-fighting fiscal package - Economy Ministry official

SAO PAULO, March 25 (Reuters) - Brazil does not have the capacity to announce huge fiscal packages to fight the coronavirus crisis, economic policy secretary Adolfo Sachsida said on Wednesday, adding that any measures taken will be for this year only and not beyond.

Speaking online at a virtual event organized by Necton Investimentos, Sachsida said that this year’s primary budget deficit will be around 200 billion reais ($40 billion) due to the economic shock from coronavirus, up from the government’s original goal of 124 billion reais. (Reporting by Marcela Ayres Writing by Jamie McGeever)

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