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Brazil's fiscal deficit grows 24.6 pct in first 9 months this year

Xinhua, October 30, 2015 Adjust font size:

The fiscal deficit of Brazil's central government reached 20.38 billion reais (5.3 billion U.S. dollars) between January and September, 24.6 percent higher than the same period in 2014, the Ministry of Public Credit announced on Thursday.

This means the deficit has reached its highest point since 1997. Furthermore, the government's primary deficit, which did not cover interest payments, stood at 6.9 billion reais (1.76 billion dollars), it added.

The sudden surge in deficit was attributable to a 4.6-percent drop in the government's net income as a result of the fiscal problems in Brazil's public sector.

This indicator also covered fiscal results from state and municipal governments, as well as state-owned enterprises, excluding banks, Petrobras and Eletrobras. Endi