World Economy

Brazil to Retain Fiscal Target

Brazil to Retain Fiscal TargetBrazil to Retain Fiscal Target

Brazil’s fast deteriorating economy has some economists projecting the country won’t meet its 2015 primary surplus target of 1.1% of GDP, Dow Jones reported. Speculation is rising that the government will soon have to reduce that figure to a more realistic level. But President Dilma Rousseff told reporters on Saturday that her government has no intention of doing so. “Our goal is to maintain the target. That’s what we want,” Rousseff said while visiting the Milan Expo in Italy. Rousseff’s administration is under pressure to improve her government’s fiscal accounts or risk a downgrade of Brazil’s sovereign debt rating to junk status.