LatinNews Daily - 03 April 2023

In brief: Year-on-year rise in Brazil’s fiscal deficit

* Brazil’s central bank (BCB) has released the latest fiscal statistics, showing a primary deficit of R$26.5bn (US$5.23bn) in February, in contrast to the R$3.5bn surplus that was registered in the same month in 2022. In the 12 months to February the public sector recorded a surplus of R$93.2bn, equivalent to 0.93% of GDP, and down 0.31 percentage points on the surplus recorded to January. Over the same period, Brazil’s nominal deficit – which includes both the primary result and debt interest payments – increased to R$565.9bn (5.62% of GDP), up 0.64 percentage points on the nominal deficit in the 12 months to January. The public sector’s net debt reached 73.0% of GDP in February, (R$7.4trn), up 0.5 percentage points from January.

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