Central government achieves record surplus in January

25/02/2002 - 11h41

Brasilia, 25 (Agência Brasil - ABr) - The Central Government (federal government, Social Security and Central Bank) achieved a surplus of R$ 7.061 billion (approx. US$ 2.9 billion) - or 6.8% of the Gross Domestic Product (GDP) - in January of 2002. The head of the Central Bank's Financial department, Altamir Lopes, said that this surplus is the best since surpluses first began being computed in 1991.

States and municipalities achieved a surplus of R$ 902 million (approx. US$ 372 million) - or 0.9% of GDP - this past January, while state-owned companies suffered a deficit of R$ 2.508 billion (approx. US$ 1 billion) - or 2.4% of GDP. According to Lopes, the deficit of state-owned companies is due to a transaction between the National Treasury department and the nation's petroleum account, carried out in December and placed into effect in January. (MW)