Brazil’s Surplus US$ 5 Billion Beyond IMF”s Wishes

    The Brazilian government had a November primary account surplus of US$ 2.542 billion (6.857 billion reais). The surplus target for the month was US$ 1.853 billion (5 billion reais). The primary account does not take into consideration interest payments on government debt.

    According to the Central Bank, everybody had a surplus in November. The federal government surplus was US$ 927 million (2.5 billion reais), state governments had a surplus of US$ 519 million (1.4 billion reais) and state-run enterprises US$ 1.075 billion (2.9 billion reais).

    For the year, the primary account surplus has now reached US$ 31.43 billion (84.8 billion reais), or the equivalent of 5.3% of GDP, compared to US$ 26.056 billion (70.3 billion reais), or the equivalent of 5% of GDP, during the same period last year.

    As for the surplus target in the agreement with the International Monetary Fund, it was US$ 26.501 billion (71.5 billion reais), which means the government is almost US$ 5 billion beyond it.

    Meanwhile, net government debt fell from US$ 350.4 billion (945.4 billion reais) in October (51.9% of GDP) to US$ 348.9 billion (941.1 billion reais) in November (51.1% of GDP).

    Agência Brasil
    Translation: Allen Bennett


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