Brazil to keep 2019 fiscal target, loosen 2020

BRASILIA: The Brazilian government will hold its 2019 fiscal target but loosen the 2020 target after failing to pass a plan cutting social security spending, a source at the economic cabinet told Reuters on Thursday.

Brazil will set targets of a primary deficit of 139 billion reais ($41 billion) for the central government in 2019, 110 billion reais in 2020 and 70 billion reais in 2021, the source said. It previously aimed at deficits of 139 billion reais in 2019, 65 billion reais in 2020 and held no goal for 2021.