Brazil’s gross public debt rises to 75.7% of GDP in March; the public sector has a primary surplus

SAO PAULO (Reuters) – Brazil’s gross debt rose in March but was still lower than expected, while Brazil’s consolidated public sector contradicted expectations and posted a primary surplus, according to data released by the Central Bank on Monday.

The country’s gross public debt in relation to GDP closed March at 75.7%, compared to 75.5% in the previous month. Net debt was 61.1%, up from 60.9%.

Expectations in a Reuters poll were 75.8% for gross debt and 61.3% for net debt.

The consolidated public sector recorded a primary surplus of 1.177 billion reais in March, against the expectations of economists consulted in a Reuters survey who indicated a negative balance of 1.55 billion reais.

The trend shows that the central government had a deficit of 1.898 billion reais, while states and municipalities recorded a primary surplus of 3.418 billion reais and state-owned companies had a negative balance of 343 million reais, as they Central Bank data shown.

Source: Terra

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