August 29, 2013 / 4:12 PM / 5 years ago

Brazil to aim for lower fiscal goal in 2014- Mantega

BRASILIA, Aug 29 (Reuters) - The Brazilian government will seek a lower primary budget surplus goal in 2014 after excluding some investments from the key fiscal measurement, Finance Minister Guido Mantega said on Thursday.

A drop in revenues due to a sharp economic slowdown and a flurry of tax breaks forced President Dilma Rousseff’s government to lower the primary surplus goal for 2013 to the equivalent of 2.3 percent of the gross domestic product from a previous 3.1 percent.

Mantega said that for next year the government will aim for a surplus equivalent to 2.1 percent of GDP. The primary surplus represents the public sector’s excess revenue over expenditures before debt payments.

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