Brasília, June 27, 2003 (Agência Brasil - ABr) - The primary surplus (revenues less expenses, apart from interest payments) so far this year has attained 5.73% of the GDP (Gross Domestic Product): R$ 37 billion. In five months, the government was able to economize over half of the target set for the year: R$ 68 billion. The result was R$ 2.5 billion more than the half-year target established with International Monetary Fund (IMF). Last month the public sector surplus amounted to R$ 4.3 billion.

The make-up of this year's primary surplus is as follows: The Central Government (the Federal Government, the National Social Security Institute, and the Central Bank), R$ 28.5 billion (4.41% of the GDP); regional governments, R$ 7.9 billion (1.22% of the GDP); and state enterprises, R$ 1.3 billion (0.10% of the GDP).

Nominal interest payments included in the debt reached R$ 14.1 billion in May, as against R$ 6.4 billion in April. In this month's total, the Central Government was responsible for R$ 10 billion, regional governments, for R$ 2.8 billion, and state enterprises, for R$ 1.3 billion.

Over the past 12 months, interest payments have amounted to R$ 140.1 billion (9.6% of the GDP), compared with R$ 134.8 billion (9.43% of the GDP) for the 12 months ending in April. In the complete, nominal definition, which includes interest payments, the public sector presented a deficit of R$ 9.8 billion in May. So far this year, the deficit amounts to 4.39% of the GDP, compared with 3.11% for the same period last year. Over the past 12 months, the cumulative deficit comes to 5.08% of the GDP. (DAS)