LatinNews Daily - 01 February 2022

In brief: Brazil posts first primary surplus since 2013

* Brazil’s central bank (BCB) has released the latest fiscal statistics, which show that Brazil’s public sector posted a primary surplus last year for the first time since 2013. The public sector posted a R$64.7bn (US$12.19bn) surplus in 2021, equivalent to 0.75% of GDP; this compares with a R$703bn deficit in 2020 (9.41% of GDP). Last year’s surplus was buoyed by the positive performance of regional governments, which recorded a R$97.7bn surplus, and of state-owned companies, which saw a surplus of R$2.9bn, while the central government posted a R$35.9bn deficit. In December 2021, the public sector posted a R$123m surplus, with a R$13.9bn surplus for the central government, and deficits of R$12.8bn and R$1bn for the regional governments and state-owned firms, respectively. Brazil’s nominal deficit, which includes the primary result and debt interest payments, totalled R$383.7bn last year, or 4.42% of GDP, compared with R$1trn (13.6% of GDP) in 2020.  

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