By Jamie McGeever
BRASILIA, Sept 29 (Reuters) – Brazil’s government posted a primary budget deficit of 96.1 billion reais ($17 billion) in August, the Treasury said on Monday, as the coronavirus crisis continued to necessitate huge emergency spending.
The deficit, excluding interest payments, was slightly less than the 98.7 billion reais deficit economists in a Reuters poll had predicted. The shortfall, excluding interest payments, expanded in the first eight months of the year to 601.3 billion reais.
That compares with an accumulated deficit of 52.1 billion reais in the same period last year, Treasury said.
In the 12 months to August, the deficit totaled 647.8 billion reais, or 9% of gross domestic product, Treasury said. The government’s 2020 forecast is for a record-busting primary deficit of 871 billion reais, or 12.1% of GDP, assuming the economy shrinks this year by 4.7%.
Net revenues in August rose nearly 6% in