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Public sector in Brazil posts $717 million deficit

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Staff writer ▼ | April 1, 2015
The consolidated public sector - federal, state and county level governments and state-owned companies - posted a primary deficit of R$ 2.3 billion ($716.9 million) in February.
Latam   The Brazilian Central Bank:
In the same month of 2014, it recorded a surplus of R$ 2.13 billion. The deficit comes after a surplus of R$ 21 billion ($6.5 billion) in January that was driven by the states and counties. The data was released by the Brazilian Central Bank (BC).

Year-to-date, the public sector is still posting a surplus of R$ 18.763 billion ($5.8 billion) due to the January results. The primary surplus is the saving of resources to pay for interest payments on debt, reducing the government debt on medium and long-term.

The February deficit was driven by the federal government. Last month, the Central Government (Treasury, Central Bank and Social Security) had a negative fiscal result of R$ 6.671 billion ($2.07 billion).

The state-owned companies, not including Petrobras e Eletrobras, also posted a deficit of R$ 1.047 billion ($326.3 million). State and county-level governments again posted surplus of R$ 4.653 billion ($1.450 billion) and R$ 547 million ($170.5 million), respectively.