Brazil’s public-sector accounts showed modest but important improvement, on a 12-month basis, in September, the Central Bank reported Monday. The public sector’s 12-month primary deficit as of September fell to R$152.3 billion from R$157.8 billion as of August. The performance represented part of a steady improvement in accounts. Earlier this year, the 12-month figure reached as high as R$170 billion. Under Brazil’s budget law, the public sector is committed to a calendar 2017 deficit no higher than R$163 billion. September performance, on a monthly basis, was a disappointment, rolling up a deficit of R$21.2 billion. That figure was far higher than the R$9.5 billion posted in August. August, however, was favored by one-off collections of back taxes. Government officials have expressed confidence they will b e able to meet the 2017 goals.
Link to Central Bank releaseMore Testimonials