Brasília – Brazil’s public sector deficit – encompassing the federal, state and municipal governments and state-owned companies – reached BRL 19.567 billion (USD 4.989 billion) in November, the Central Bank reported this Tuesday (29). The deficit had been BRL 11.5 billion (USD 2.93 billion) in October and BRL 8.1 billion (USD 2 billion) in November 2014. Last month’s result was the worst ever for a November since the Central Bank started keeping track of numbers in December 2001.
In the first 11 months of the year, the public sector deficit hit BRL 39.520 billion (USD 10.077 billion). A year ago, the deficit had been BRL 19.6 billion (USD 4.99 billion). In the 12 months ended November, a public sector deficit of BRL 52.4 billion (USD 13.3 billion) was recorded – the number is tantamount to 0.89% of Gross Domestic Product (GDP), and also the highest deficit-to-GDP ratio ever.
*Translated by Gabriel Pomerancblum
