Brazil’s Nominal Surplus Reaches US$ 1.8 Billion in September

Brazil's Central Bank Brazil's Central Bank (BC) recorded a nominal surplus of 3.863 billion reais (US$ 1.78 billion) in the month of September. In other words, government savings were more than enough to pay interest on the debt. This was the best result ever recorded in the month of September.

This was the fourth time this year that a nominal surplus was recorded, after January (5.531 billion reais or US$ 2.6 billion), March (3.989 billion reais or US$ 1.8 billion) and April (3,841 billion reais or US$ 1.8 billion).

Interest reached 6.142 billion reais (US$ 2.9 billion) in September, as against 15.473 billion reais (US$ 7.3 billion) during the same period of 2007, the lowest volume since September 2001 (5.861 billion reais or US$ 2.7 billion).

According to the BC, in September 2007 a nominal deficit of 11.919 billion reais (US$ 5.6 billion) was recorded, and in August this year a negative result was also recorded, at 2.343 billion reais (US$ 1.1 billion).

The primary surplus (government savings for meeting financial obligations) reached 10.005 billion reais (US$ 4.7 billion) in September, a higher figure than the 3.554 billion reais (US$ 1.6 billion) recorded in the same month of 2007. It was the best result since September 2002 (10.257 billion reais – US$ 4.8 billion).

"The primary surplus [in September] is in keeping with the good results that have been recorded [this year]," said the adjunct-head at the Economic Department of the BC, Túlio Maciel. According to him, the figures reflect a rise in government tax collection.

In September, the largest contribution was that of the federal government, at 12.730 billion reais (US$ 6 billion), the highest figure for the month since the BC started keeping track, in 1991. The results posted by state-owned companies in general were also the highest ever for September (3.242 billion reais or US$ 1.5 billion) and specifically those of federal state-owned companies (3.093 billion reais or US$ 1.4 billion).

State-level state-owned companies contributed 184 million reais (US$ 86.9 billion) and municipality-level ones recorded a primary deficit of 36 million reais (US$ 17 million). State governments posted a surplus of 1.303 billion reais (US$ 616 million) and municipality governments, 288 million reais (US$ 136.1 million).

ABr

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