Brasília – The Brazilian federal, state and municipal governments and state-run companies posted a combined primary deficit of BRL 11.53 billion, or USD 2.99 billion, in October, the Central Bank reported this Monday (30th). It was the worst result for October since records started being kept in December 2011. In October 2014, there was a primary surplus of BRL 3.729 billion.
Year-to-date through October, the governments and government-owned companies posted a BRL 19.953 billion (USD 5.18 billion) primary deficit. In the 12 months leading up to October, there was a primary deficit of BRL 40.932 billion (USD 10.631 billion), equivalent to 0.71% of Gross Domestic Product (GDP).
Also on this Monday, the federal government issued a decree on the Federal Official Gazette with the new 2015 budget allocation, including a BRL 11.2 billion cut in this year’s budgetary expenditures.
*Translated by Gabriel Pomerancblum
