Brazil's nominal budget deficit widened to BRL 68.0 billion in December 2018 from BRL 65.6 billion in the corresponding month of the previous year. Additionally, the primary budget shortfall rose to BRL 41.1 billion from BRL 32.3 billion a year earlier, as the central government budget gap increased to BRL 32.8 billion from BRL 22.2 billion. Meanwhile, state-owned companies recorded a BRL 1.9 billion surplus compared to a BRL 0.2 billion shortfall in December 2017. Also, the regional governments budget deficit narrowed to BRL 9.4 billion from 9.7 billion a year ago. Considering full 2018, the nominal budget deficit decreased to BRL 487.4 billion, or 7.09 percent of GDP, from BRL 511.4 billion, or 7.80 percent of GDP in 2017. Government Budget Value in Brazil averaged -15565.11 BRL Million from 1998 until 2018, reaching an all time high of 18626.11 BRL Million in January of 2018 and a record low of -123821.44 BRL Million in December of 2015.
Government Budget Value in Brazil is expected to be -52000.00 BRL Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Government Budget Value in Brazil to stand at -53000.00 in 12 months time. In the long-term, the Brazil Government Budget Value is projected to trend around -55000.00 BRL Million in 2020, according to our econometric models.