Brasília – The Brazilian Central Government (National Treasury, Social Security, and Central Bank) posted a primary surplus of roughly US$1.43 billion (R$ 3.2 billion) in March, according to figures supplied by the Treasury this Wednesday (30th). The result is higher than the one posted in the same month in 2013, when the surplus was around US$ 130.8 million (R$ 291.4 million), but lower than in March 2012 (around US 3.43 billion or R$ 7.64 billion) and 2011 (US$ 4.02 billion or R$8.972 billion).
The result posted in March was due to the US$3.47 billion (R$ 7.73 billion) Treasury surplus, the US$2.02 billion (R$ 4.5 billion) Social Security deficit and the US$ 15.3 million (R$ 34.1 million) Central Bank deficit. In February 2014, there was a primary surplus deficit of US$1.38 billion (R$ 3.079 billion). In January, a primary surplus of US$5.817 billion (R$ 12.954 billion) was recorded. The resulting Q1 surplus was US$5.83 billion (R$ 13 billion).
The primary surplus consists of savings to pay interests on the public debt. It allows for the reduction of government debt in the medium and long term. For this year, the Central Government’s goal is to save US$ 36.2 billion (R$ 80.8 billion), the equivalent of 1.55% of the Gross Domestic Product (GDP).
*Translated by Rodrigo Mendonça
