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Dilma Rousseff

Brazil August budget deficit smaller than economists forecast

BRASILIA, Brazil _ Brazil's budget deficit before interest payments last month was narrower than economists forecast, as President Dilma Rousseff's government struggles to fortify fiscal accounts to avoid another sovereign downgrade to junk. The so-called primary deficit was 7.3 billion reais ($1.8 billion) in August, the central bank said Wednesday. The median estimate of 21 economists surveyed by Bloomberg was for a gap of 11 billion reais following a deficit of 10 billion reais the prior month. The nominal deficit reached 57 billion reais. The government this year has revised down fiscal targets for 2015 and 2016 as recession undercuts tax collection and Congress fights...