2015 primary surplus target may be revised, says minister

The outlook for new revenue may lead to a review of this year's primary surplus target, saving for the interest payment on public debt. The statement was issued by Planning Minister Nelson Barbosa, who spoke to reporters after the meeting with Miguel Rossetto, Minister of Labor and Employment and Social Security.

At the first moment, the target of tax revenue for federal, state, municipal and state-owned firms mounted to $16.8 billion, or 1.1% of this year's gross domestic product (GDP). In July, due to the drop in federal revenues, the economic team lowered the target to $2.2 billion—0.15% of GDP.

"But this is not a decision. We are carrying out several assessments because extra revenue can be raised at the end of the year," he declared.

The minister also said that the reviews for the target are being made by Finance and Planning Ministries, and will be released by Friday (Oct. 23). Nelson Barbosa announced that they have not reached an "exact figure" for the issue yet.

Translated by Amarílis Anchieta

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