LatinNews Daily - 08 February 2024

In brief: Brazil’s public sector posts primary deficit in 2023

*Brazil’s central bank (BCB) has reported its latest fiscal statistics for the public sector showing a primary deficit of R$249.1bn (US$50.13bn) for 2023, which corresponds to 2.29% of GDP. This contrasts with the surplus of R$126.0bn (1.25% of GDP) registered for 2022. The nominal deficit of the public sector totalled R$967.4bn (8.90% of GDP) in 2023, up from the R$460.4bn (4.57% of GDP) in 2022. Last year was the first year since 2020 that the BCB registered an annual deficit for the public sector. Nominal debt interest payments came to R$718.3bn (6.61% of GDP) for 2023, up from R$586.4bn (5.82% of GDP) in 2022, a figure which has increased every year for the past three years.  

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