São Paulo – The Brazilian central government (National Treasury, Social Security and Central Bank) posted in the first half (H1) of this year a primary surplus of roughly US$ 7.733 billion (or R$ 17.23 billion). There was a decline of 50.1% from the 2013 surplus, which was US$ 15.507 billion (or R$ 34.55 billion). This was the worst H1 result since 2000. The primary surplus consists of savings to pay interests on the public debt.
In June, there was a primary deficit of US$ 870.7 million (or R$ 1.94 billion). In the same month last year the central government had posted a primary surplus of US$ 574 million (or R$ 1.28 billion). The surplus target for the Brazilian consolidated public sector, set by the government, is US$ 44.443 billion (or R$ 99 billion), that is, 1.9% of the Gross Domestic Product (GDP) for this year. Part of these funds should come from the central government.
*Translated by Rodrigo Mendonça
