Brazil Flash: ”Fiscal target was fulfilled and public debt declined to 36.5% of GDP”

Summary

The public sector’s primary surplus reached R$ 128.7bn (3.1% of GDP) in 2011, reaching the fiscal target fixed for the year (R$ 127.9bn; 3.1% of GDP). In spite of the primary surplus, interest rate payments weighted on fiscal accounts and drove public sector’s total deficit down to 2.6% of GDP.

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