Brazil nom budget gap 4.27 pct/GDP 12 mos to Jan
Reuters, Tuesday, April 07, 1998 at 09:56
BRASILIA, April 7 (Reuters) - Brazil posted a nominal
budget deficit of 4.27 percent of gross domestic product in the
12 months to January, up from 4.22 percent in the 12 months to
December, the Central Bank said Tuesday.
The bank said the figures were calculated using new
criteria and included privatization receipts. Excluding
privatization receipts, the 12-month deficit in January was
6.18 percent of gross domestic product, up from 6.12 percent of
GDP in the 12 months to December.
Including privatization receipts, the primary account,
which does not include debt servicing, posted a surplus of 1.08
percent of GDP in the 12 months to January, up from a 0.96
percent of GDP surplus in the 12 months to December.
However, excluding privatization receipts, the primary
account showed a deficit of 0.83 percent of GDP, lower than a
0.94 percent of GDP shortfall in the 12 months to December.
In the month of January, Brazil posted a nominal deficit of
$5.4 billion reais, down sharply from the $12.6 billion reais
shortfall in the month of December, the Central Bank said.
Central Bank officials were not immediately available to
comment on the changes in the way the public sector budget
figures were being calculated. They were scheduled to hold a
news conference later in the day.
Copyright 1998, Reuters News Service
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Brazil net public debt at 35.3 pct/GDP in Jan
Reuters, Tuesday, April 07, 1998 at 10:08
BRASILIA, April 7 (Reuters) - Brazil's net public sector
debt in January rose to 316.7 billion reais, equivalent to 35.3
percent of gross domestic product, the Central Bank said
Tuesday.
The debt-to-GDP ratio worsened from December, when it stood
at 34.5 percent of GDP.
Of the total, Brazil's internal debt was 278.4 billion
reais, while external debt was 38.3 billion reais, the bank
said.
While the overall debt-to-GDP ratio of 35.3 percent is
small when compared to Belgium, Italy or Canada, whose ratios
range from 80 percent to over 100 percent of GDP, economists
say it is worrisome for a speculative-grade country like
Brazil.
Economists say it is also worrying that the average
maturity on local debt, the bulk of Brazil's total debt
stockpile, is just six months.
Copyright 1998, Reuters News Service |
