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LatinNews Daily - 2 December 2024

In brief: Brazil’s primary surplus grows in October

*Brazil’s central bank (BCB) has announced that the public sector registered a primary surplus of R$36.9bn (US$6.1bn) in October, up from a R$14.8bn surplus in the same month in 2023. The federal government registered a primary surplus of R$39.1bn, while regional governments registered a deficit of R$1.9bn and state companies registered a deficit of R$360m. The accumulated primary deficit of the public sector in the 12 months to October totalled R$223.5bn, equivalent to 1.95% of GDP. The public sector’s nominal deficit, which includes both the primary result and debt interest payments, came to R$111.6bn in October, up from R$61.9bn in October 2023. The accumulated nominal deficit in the 12 months to October 2024 totalled R$869.3bn, equivalent to 7.57% of GDP.

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