Brasília – Brazil’s federal, state and local governments ran a BRL 12.706 billion (USD 3.361 billion) primary deficit in June from BRL 13.491 billion (USD 3.570 billion) a year ago. That’s the best result for the month since 2016. The figures were released this Monday (29) by the Central Bank of Brazil (pictured).
In H1, the governments saw a primary deficit of BRL 5.74 billion (USD 1.52 billion) from BRL 14.424 billion (USD 3.816 billion) a year ago. This was the best result for H1 since 2015.
Central Bank Statistics Department chief Fernando Rocha said H1 primary result is usually better than H2’s. That’s because, in H1, there are more revenues, such as income taxes, while in H2 there’s an increase in spending, for instance the thirteenth salary to retirees.
Translated by Guilherme Miranda
