Brazilian Economy Minister Paulo Guedes said on Thursday that the real currency has lost value against the dollar due to political uncertainties and disputes that are causing "infernal noise" for markets. But he said the weaker currency gives foreigners investing in Brazil, an "additional marginal gain." "Fundamentals are there and the dollar is still up there because of the infernal noise," he said. Guedes, speaking at an event at the ministry, said Brazil"s economic fundamentals remain solid and the budget deficit figures have improved, with the primary budget deficit expected to be below 100 billion reais ($18 billion) this year. Next year, the primary budget deficit was expected to be zero, but due to emergency relief payments during the pandemic the deficit could be about 1% of GDP again. "I think that is socially acceptable," he said. ($1 = 5.5576 reais)
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