November 18, 2019 / 7:44 PM / 25 days ago

Brazil's Guedes estimates primary deficit in 2019 below 80 bln reais

BRASILIA, Nov 18 (Reuters) - Brazil’s Economy Minister Paulo Guedes said on Monday that the government’s primary budget deficit this year should come in at just below 80 billion reais ($19 billion).

Speaking at a news conference in Brasilia, Guedes said that the government had resisted increasing pressure to abolish its spending cap, but will be able to reverse all the spending freezes announced earlier in the year so it could meet its fiscal targets.

$1 = 4.2032 reais Reporting by Marcela Ayres Editing by Chizu Nomiyama

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