Brazil Pays Another US$ 4 Billion in Interest on Debt

Brazil government’s non-financial sector (federal government, states, muncipalities and their state-owned enterprises) primary surplus reached US$ 3.0 billion (8.2 billion reais) in October – 35.67% above the September surplus of US$ 2.213 billion (6.044 billion reais).

The October result elevated the cumulative primary surplus for the year to US$ 28,550 billion (77.971 billion reais), the equivalent of 5.6% of GDP.


The result is US$ 5.1 billion (14 billion reais) over the result for the same period last year (US$ 23 billion (64 billion reais), the equivalent of 5.15% of GDP).


With the result, the government should easily reach its year end target of a 4.50% of GDP primary surplus.


In October, the federal government (Treasury, Central Bank and Social Security) had a primary surplus of US$ 2.019 billion (5.515 billion reais).


States and municipalities had a primary surplus of US$ 466 million (1.274 billion reais) and state-run enterprises US$ 517 million (1.411 billion reais).


In October Brazil paid US$ 4.06 billion (11.1 billion) in interest on its debt. That was down US$ 146 million (400 million reais) from September.


Cheaper Dollar


Brazil’s Minister of Development, Industry and Foreign Trade, Luiz Fernando Furlan, says that Brazil should take advantage of the cheaper dollar and strengthen its reserves, boost trade and pay off dollar debts, especially companies in the private sector.


Furlan also announced that the government should announce measures to stimulate industrial and commercial activity at a meeting of the Industrial Development Council in December.


The measures should go into effect in 2005 and will reduce taxes for maritime ports and so-called dry ports.


Agência Brasil
Translator: Allen Bennett

Tags:

  • Show Comments (0)

Your email address will not be published. Required fields are marked *

comment *

  • name *

  • email *

  • website *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Ads

You May Also Like

Amnesty Probes Charges of Violence Against Women in Brazil

Tim Cahill and Patrick Wilcken, who represent Amnesty International, are participating today, June 12, ...

Rural Workers Invade Bank of Brazil to Make Their Case

On the morning of March 11, dozens of farmers involved in the social movements ...

China Gets a Long Lesson on Ethanol in Brazil

Chinese experts are in Brazil to learn about the ethanol production process, automobile industries ...

A New Daily from Washington to Brazil

Beginning Oct. 31, 2005, U.S.-based United Airlines is scheduled to offer customers additional daily ...

Indy: Let Brazil Shine

Not only the boys from Brazil, but from all over the world. Formula Indy ...

Port of Santos, in São Paulo, Brazil

Brazilian Trade Surplus in 2007 Grows to US$ 1.7 Billion

Brazilian exports generated US$ 2.795 billion last week, with growth of 7.21% over the ...

Food and Education Price Hikes Feed Inflation in Brazil

Brazilians started the year having to spend more money to feed themselves. A study ...

China Spends Close to US$ 1 Billion Buying Power Plants in Brazil

Beijing-based State Grid Corp. of China completed the purchase of seven electricity distribution businesses ...

Lula Mad at Brazil Press He Charges with Wishing His Failure

Luiz Inácio Lula da Silva, the president of Brazil, once again attacked the Brazilian ...

Rio Arrests Drug Lord of Rocinha, Its Biggest Favela, in Preparation for Olympics

Earlier today, Rio police arrested Antonio Francisco Bomfim Lopes, alias Nem, the drug lord ...