Brazil’s Debt Falls US$ 2 Bi, Still US$ 329.7 Bi

Brazil’s net government debt fell in September for the third straight month, to a total of US$ 329.7 billion (940.54 billion reais), equivalent to 53.7% of the Gross Domestic Product (GDP).

The figures for August registered a debt of US$ 330 billion (941.313 billion reais), or 54% of the GDP. During the July/September quarter, the nominal reduction in the debt amounted to US$ 2.8 billion (R$ 8 billion).


The monthly report on fiscal policy was released by the head of the Economic Department of the Central Bank, Altamir Lopes.


According to Lopes, that last month’s primary surplus of US$ 2.1 billion (6.044 billion reais) and foreign currency earnings of US$ 1.9 billion (5.6 billion reais) surpassed the US$ 4 billion (11.5 billion reais) in nominal interest payments, contributing to the US$ 280.5 million (800 million reais) reduction in the debt.


As a result, the ratio between the debt and the GDP has already decreased 5% this year, according to Lopes, reflecting the growth that has occurred in the GDP and the primary surpluses.


There was a real increase, however, in gross government debt (Federal Government, Social Security, and regional governments), which attained US$ 455 billion (1.299 trillion reais, or 74.3% of the GDP) in September, compared with US$ 453 billion (1.291 trillion reais, or 74.1% of the GDP) in August.


Agência Brasil
Translator: David Silberstein

Tags:

Ads

You May Also Like

Brazilian Presence Grows in China’s Air

The executive vice president for Corporate Communication at Embraer (Empresa Brasileira de Aeronáutica), Horacio ...

Drought Leaves Amazon Populations in Brazil Isolated Without Water, Food and Medicine

The drought in the Amazon basin which has limited navigation in many tributaries leaving ...

From US$ 1.3 Trillion Global Pie Brazil Gets US$ 16 Bi, the US US$ 177 Bi

The flow of foreign direct investment (FDI) to Latin America and the Caribbean, reached ...

Brazil: Bankruptcy-Plagued Varig Hires US Firm Savvy on Distressed Airlines

Global professional services firm Alvarez & Marsal, which specializes in turnarounds and restructurings, announced ...

Brazilian Dies While Being Held by US Immigration Agents

US-resident Brazilian Irene Araújo had a little problem earlier this week. She was worried ...

In Rio, 95% of Favelas Are Controlled by Drug Lords and Police-Connected Thugs

Postcard-pretty Rio, in Brazil, is pockmarked with favelas (slums). More than a thousand of ...

Brazil’s Interest Rates Are Still 6 Times Higher Than the US’s

The Brazilian Central Bank cut the benchmark Selic lending rate 25 points to 19.5% ...

Brazil’s Nadir, an Empire of Glass

Nadir Figueiredo, a producer of glass utensils for household use and industrial packages, based ...

Voices Rise Against “Gaza Wall” Around Rio Favela, in Brazil

Environmentalists, human rights activists and residents of Rio de Janeiro, Brazil, are opposing plans ...

Female condom

Brazil Orders 4 Million Female Condoms from US

U.S.-based Female Health Company announced today that it has received an order for four ...