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Sovereign Wealth Funds Briefing - Categorized | Compliance/Regulation/Legal, Fund Management/Administration

Brazil won’t use wealth fund to meet budget surplus target — Official

Posted on 05 December 2013

Brazil’s government won’t resort to tapping its sovereign-wealth fund to cover for any possible shortfalls in meeting its budget surplus target this year, Treasury Secretary Arno Augustin said Wednesday.
Speaking to reporters following testimony at the country’s congress, Mr. Augustin denied that the government would need recourse to extraordinary measures to meet its budget goals. “We’re working with a target of BRL73 billion for the central government, and all the information we have until the moment point toward our compliance with the target,” he said………………………………………..Full Article: Source


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