Brasília – The Brazilian consolidated public sector primary surplus – i.e. the combined surpluses of the federal, state and municipal governments and government-owned companies – reached R$ 2.997 billion in August, according to figures released today (28th) by the Central Bank. The surplus last month was lower than in August 2011 (R$ 4.561 billion).
Year-to-date as of August, the primary surplus was R$ 74.225 billion, also down from the same period in 2011 (R$ 96.54 billion). In the 12-month period ended August, the surplus was R$ 106.395 billion, a figure equivalent to 2.46% of the Gross Domestic Product (GDP) – which is the sum of all wealth produced in the country. The target for this year is R$ 139.8 billion.
The primary surplus has fallen short from matching the interest due on the outstanding debt. Said interest stood at R$ 19.118 billion in August and a combined R$ 147.58 billion year-to-date, as against R$ 21.663 billion and R$ 160.207 billion, respectively, in the equivalent periods of 2011.
*Translated by Gabriel Pomerancblum
