RIO DE JANEIRO, BRAZIL – Brazil’s public sector registered a primary surplus of R$3 billion (US$566 million) in the month October, marking the first surplus of the year, but the worst result for the month since 2015, the Central Bank of Brazil said Monday, November 30th.
In the 12 months ending in October, the primary deficit reached R$661.8 billion, equivalent to 9.13 percent of Brazil’s gross domestic product (GDP).
The numbers refer to the fiscal performance of the federal, state and local governments, as well as state-owned companies, but exclude state banks, oil company Petrobras and energy company Eletrobras, without taking into account payment on debt interest.
Meanwhile, public sector net debt reached 61.2 percent of GDP, an increase of 0.2 percentage point over the previous month.