Thursday, March 29, 2007

UPDATE 1-Brazil cuts fiscal target on bigger GDP growth

(Reuters) - Mantega said the change was made because of a broader definition of GDP and will be unchanged from the primary surplus calculated for last year using the new GDP methodology.

The government on Wednesday revised the GDP expansion in 2006 to 3.7 percent from a previously reported 2.9 percent. Mantega last night said that with the revision, the 2006 primary surplus fell to 3.88 percent of GDP, below the government's target of 4.25 percent.


Read more at Reuters.com Economic News

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