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Sovereign Wealth Funds Briefing - Categorized | Reserve Currencies

Brazil may pay revenues over 2010 fiscal target into sovereign fund

Posted on 20 May 2010

From Dow Jones: If Brazil hits its primary surplus target of 3.3% of gross domestic product in 2010, extra funds could be set aside in a type of sovereign fund, said Treasury Secretary Arno Augustin Wednesday.

Speaking after a congressional committee meeting, he said that the government is monitoring the fiscal situation but strong tax revenues and the decision to cut the federal budget by 10 billion Brazilian reals ($5.4 billion) pointed to a steady rise in the surplus throughout the year……………………………………..Full Article: Source


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