Government's primary surplus running at 3.44% of GDP

25/09/2003 - 17h25

Brasília, 9/26/2003 (Agência Brasil - ABr) - The primary surplus (which does not take into account interest payments) at the Central Government, which is the Treasury, Social Security system and Central Bank (Tesouro Nacional, Previdência e Banco Central) reached R$2.6 billion in August, bring the cumulative surplus for the year to R$34.6 billion, or the equivalent of 3.44% of GDP.

Here is a breakdown on the surplus. The Tesouro Nacional had a surplus of R$4.7 billion, the Previdência had a deficit of R$2.2 billion, and the Banco Central had a deficit of R$19.4 million.

The government's net revenue for August was R$23.5 billion, with outlays at R$20.1 billion. However, both revenue and outlays fell in August. Government expenditures were down R$2.2 billion and revenue was also down R$2.4 billion, compared to July. (AB)