Brazil: $26.6 billion deficit in public accounts largest for September

The so-called consolidated public sector, formed by the federal, state, and municipal governments, posted a primary deficit of $8.357 billion in September, Brazil's Central Bank announced Monday (Oct. 31). The outcome, for which the payment of interest is not considered, was the worst for a September in the current time series, initiated in December, 2001.

In the nine-month period, from January through September, the negative result totaled $26.88 billion, nearly ten times as large as the $2.647 billion observed in the same period last year. As for the 12-month span ending in August, the primary deficit stands at $59.201 billion, or 3.08% of the country's gross domestic product (GDP).

The net debt in the public sector—the balance in the accounts of the federal, state, and municipal governments—added up to $848 billion in September, which corresponds to 44.1% of the GDP, against August's 43.3%. The gross debt (liabilities only) added up to $1.360 trillion, or 70.7% of the GDP, up 0.6 percentage points from August.

Translated by Fabrício Ferreira