July 8, 2019 / 2:18 PM / 2 months ago

Brazil to cut 2019 GDP growth forecast, weak revenues could prompt budget freezes - Economy Ministry

BRASILIA, July 8 (Reuters) - Brazil’s government will likely lower its 2019 economic growth forecast to around 0.8%-1.25% from 1.6% currently, while slowing revenues could lead the government to announce more budget freezes, a senior Economy Ministry official said on Monday.

Special secretary to the Economy Ministry Waldery Rodrigues also said that he will formally request development bank BNDES to return 126 billion reais ($33 billion) to the government this year, and warned that Brazil must avoid debt surpassing 80% of GDP. (Reporting by Marcela Ayres Writing by Jamie McGeever)

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