Brazil oil auction flop to dent 2020 government revenues: survey

Economists have lowered their forecasts for the Brazilian government’s primary budget primary deficit this year but raised it for next year, an economy ministry survey showed on Tuesday.

The expected increase in the 2020 deficit compared with forecasts a month ago follows the disappointing ‘Transfer of Rights’ oil auction last week that analysts say will put a dent in government revenues next year.

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