Updated January 5th, 2024 at 17:31 IST
Brazil's public sector gross debt dips to 73.8% of GDP in November
This reduction comes in contrast to the expectations of economists who had projected the debt-to-GDP ratio to climb to 75 per cent.
Brazil’s gross debt: Brazil's public sector debt relative to its gross domestic product (GDP) declined to 73.8 per cent in November, down from 74.7 per cent recorded in the previous month, according to data released by Brazil’s central bank on Friday.
This reduction comes in contrast to the expectations of economists surveyed by Reuters, who had projected the debt-to-GDP ratio to climb to 75 per cent. Concurrently, Brazil's public sector registered a primary deficit of 37.27 billion reais ($7.61 billion) for November, surpassing the 34.5 billion-real deficit anticipated in the Reuters poll.
Brazil's government debt as a share of gross domestic product increased to 74.7 per cent in October from 74.4 per cent the month before, central bank data showed on Wednesday, primarily driven by interest expenses.
Economists surveyed by Reuters had anticipated the country's gross debt-to-GDP ratio to reach 74.5 per cent.
The deterioration occurred despite a primary surplus posted by the public sector for the month, amounting to 14.798 billion reais ($3 billion), which fell short of the 17.6 billion reais surplus projected in the poll.
(With Reuters inputs)
Published January 5th, 2024 at 17:31 IST