Brasília – Brazil’s Central Government (Central Bank, Social Security and the National Treasury) ran a primary deficit of BRL 38.356 billion (USD 11.712 billion) in November, the worst result for the month since record-taking began in 1997. The number was made public this Monday (26) by the National Treasury.
The all-time high drove the year-to-date deficit to BRL 94.158 billion (USD 28.751 billion), another record. From January to November 2015, Central Government deficit stood at BRL 54.1 billion (USD 16.5 billion).
An additional BRL 73.5 billion (USD 22.4 billion) deficit is expected in December – the highest figure ever. This is due to the government’s expectation of meeting the bulk of outstanding obligations from past years.
As per the National Treasury’s forecasts, at year’s end, the Brazilian Central Government should see a primary deficit of BRL 167.7 billion (USD 51.2 billion), which is less than Congress’ approved target of BRL 170.5 billion (USD 52 billion) for this year.
*Translated by Gabriel Pomerancblum
