RIO DE JANEIRO, Jan. 29 (Xinhua) -- Brazil's federal government had a primary deficit of 95 billion reals (22.5 billion U.S. dollars) in 2019, the country's Treasury Secretariat said on Wednesday.
It was the sixth consecutive year the country had registered a primary deficit, but the deficit was the lowest in five years. Compared to 2018, the primary deficit fell 20.8 percent.
The amount surpassed by far the estimates made by the government two months ago. Economy Minister Paulo Guedes estimated an 80 billion reals (19 billion dollars) deficit for the year. However, it was still much below the deficit cap set for 2019, which stood at 139 billion reals (33 billion dollars).
The 95 billion reals deficit amounted to 1.3 percent of Brazil's GDP. Treasury Secretary Mansueto Almeida said the government cannot afford to "set off fireworks" yet.
"Brazil's accounts are still in the red. The adjustments is taking place gradually, in the right direction," said Almeida.
