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Brazilian state governments have largest deficit in history for October

In October, Brazilian state governments had a nominal deficit of R$3.2 billion (US$603 million).

This was the largest negative balance in the state accounts for the month in the historical series that began in 1998.

The account is part of the primary result of regional administrations, which is the revenue subtracted by expenses, excluding interest payments on debt. The Central Bank (BC) released the report on Wednesday (Nov. 30).

The consolidated public sector accounts - formed by the federal government, the Central Bank, states, municipalities, and state-owned companies - had a surplus of R$ 27.1 billion.

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