Brazil registers primary deficit of 8.84 bln USD in H1

Brazil registers primary deficit of 8.84 bln USD in H1

RIO DE JANEIRO, July 28 (Rahnuma) — Brazil’s government registered a primary deficit of 32.8 billion reais (8.84 billion U.S. dollars) in the first half of 2018, the country’s National Treasury announced Friday.

The deficit went down 42 percent from the same period in 2017 and it was also the lowest deficit in the past three years.

However, it remained the third worst primary result for the period since 1997.

According to the National Treasury, the government’s net income amounted to 599.6 billion reais (161.54 billion dollars), up 6.3 percent from the same period last year.X On the other hand, total expenditures rose 2.2 percent to 636.5 billion reais (171.48 billion dollars).

Though the figures registered in the first half of 2018 were negative, they were in line with the expectations of the government, which set a fiscal target for a deficit of up to 159 billion reais (42.84 billion dollars) in 2018.

Primary deficit is one of the parts of fiscal deficit. It deducts interest payment from fiscal deficit.

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