Brasília, 9/1/2003 (Agência Brasil - ABr) - The non-financial segment of the government had a surplus of R$4.3 billion in July, according to the Central Bank. There was a surplus of R$3.3 billion in the central government segment (federal government, INSS (social security) and Central Bank). State-run enterprises had a surplus of R$1 billion. But states and municipalities had a deficit of R$16 million.

Thus, for the year, there is a cumulative public sector primary surplus which totals R$44.3 billion, or the equivalent of 5.05% of GDP. For the sake of comparison, during the same period last year, the surplus was R$32.9 billion, or 4.48% of GDP.

In July the government made nominal interest payments of R$15 billion on its debt, compared to R$9 billion in June. When interest payments are taken into consideration (the primary account disregards interest payments), the government had a deficit of R$924 million in July, compared to a surplus of R$2.6 billion in June. (AB)