Traders now have one more reason to expect a downgrade of Brazil’s credit rating.
A press report saying President Dilma Rousseff will cut the primary budget surplus goal, which excludes interest payments, spurred the worst slide in the Americas for the Ibovespa. An earlier-than-estimated revision of the target is seen hurting the government’s credibility and worsening the outlook for an economy on pace for the worst recession in 25 years.
Brazil Energy Insight 
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