BRASILIA, May 22 (Reuters) - Brazil's government raised its primary deficit forecast for this year to 14.5 billion reais ($2.81 billion) on Wednesday, up from a deficit of 9.3 billion reais estimated in March, but still in line with its fiscal target.

The new estimate, released in the Planning and Finance ministries' bi-monthly revenue and expenditure report, corresponds to a primary deficit of 0.1% of GDP, while the target for this year is to eliminate the primary deficit, with a tolerance margin of 0.25 percentage point of GDP in either direction.

($1 = 5.1541 reais) (Reporting by Marcela Ayres; Editing by Leslie Adler)