Brasília - Net public sector debt fell US$874 million (R$2.584 billion) in July to US$320 billion (945.659 billion), or the equivalent of 55.3% of GDP. That was the best result since April of 2003. However, the head of the Economic Department at the Central Bank, Alamir Lopes, says it should rise again slightly to 56% at the end of the year. Lopes points out that the ratio has fallen 3.4 percentage points since the beginning of the year due to GDP expansion and a strong primary surplus.

Agência Brasil
Reporter: Stenio Ribeiro
Translator: Allen Bennett
08/30/2004