Investors unfazed by wider fiscal deficit outlook in Brazil

When former Brazilian President Dilma Rousseff’s government repeatedly missed its fiscal targets, investors fled the country. Now that her successor, Michel Temer, seems poised to do the same, financial markets appear unperturbed.

Finance Minister Henrique Meirelles is expected to announce in the coming weeks a wider budget deficit goal for 2017 as a slower-than-expected economic recovery causes tax revenue to fall short of government expectations.

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