Brazil Has Already Saved US$ 23 Billion this Year to Pay Debt Interest

The primary surplus – which represents money saved by the federal government to repay debt interest – totaled US$ 23.062 billion (R$ 52.7 billion) between January and September.

This amount corresponds to 3.71% of all the wealth produced by the country this year – the Gross Domestic Product (GDP).

This result is superior to last year’s for the same period, in which the government made a fiscal adjustment equivalent to 3.54% of the GDP.

The goal for this year’s primary surplus is 4.25%. These figures were announced Thursday, October 27, by the secretary of the Treasury, Joaquim Levy.

In August, the primary surplus was insufficient to cover interest expenses. The adjustment made by the government was US$ 1.969 billion (R$ 4.5 billion). But interest expenses amounting to US$ 5.251 billion (R$ 12 billion) resulted in a deficit of US$ 3.282 billion (R$ 7.5 billion).

Regarding the result between January and September, Levy thinks that "it does not present any exceptional feature." In his view, what is important now is to pay attention to the results for the coming quarter.

"The current target is only for the end of the year. I believe that a convergence will occur in these three months. My expectation is for there to be a deficit in the months of October, November, and December."

Agência Brasil

Tags:

You May Also Like

Globo soap opera

The Brazilian Mating Game: You Can’t Win It!.

A few hours after saying goodbye to my son before he boarded a bus ...

In Brazil, AIDS Kills More Blacks than Whites

The campaign, Together with Children and Adolescents – Together We Shall Overcome AIDS! – ...

A Brazilian prison

The Red Flag of Inequality Is Up in Brazil. But Nobody Seems to See It.

The explosion of violence that hit São Paulo in May makes up in varying ...

Franklin Martins at the time he was wanted by the police

Brazil’s New Cabinet Has Man Who Kidnapped US Ambassador in 1969

Brazilian President Lula da Silva and his newly formed ruling coalition completed the reshuffling ...

Foot and Mouth Disease Spreads to Another State in Brazil

Forty cattle farms in the southern Brazilian state of Paraná, which borders with Paraguay ...

Brazil’s Amazon to Get US$ 80 Million for Conservation

Brazil’s Ministry of Environment’s (MMA) Amazon Protected Areas (Arpa) program will be able to ...

LETTERS

Shanty towns and poor neighborhoods were more affected by the dengue outbreak. But in ...

World’s Top AIDS Experts in Brazil for Conference on HIV

The four-day 3rd IAS Conference on HIV Pathogenesis and Treatment, where more than 5,000 ...

Come January, Brazil Adds Biodiesel to Its Tanks

Brazil is getting ready to take a big leap in the direction of the ...

Darling, Traditional Brazilian Lingerie Maker, Opens Shop Overseas

Darling's internationalization should take an important step by the end of the year. The ...