Brazil posts 2014 primary budget deficit, first in over a decade
BRASILIA Jan 30 (Reuters) - Brazil posted a primary budget deficit of 12.894 billion reais ($4.85 billion) in December, capping the worst year for the country's public accounts in more than a decade, central bank data showed on Friday.
Brazil ended 2014 with a primary budget deficit of 32.536 billion reais, or the equivalent of 0.63 percent of gross domestic product. That was the first annual budget deficit since the current data series started in 2001.
The government originally aimed for a primary surplus, which represents the public sector's excess revenue over expenditures before debt payments, of 99 billion reais, or the equivalent of 1.9 percent of GDP. In 2013, Brazil posted a budget surplus of 91.3 billion reais.
Brazil's overall budget deficit, which takes into account debt servicing costs, amounted to 343.916 billion reais, up from 157.6 billion reais in the previous year.
Brazil's gross debt rose to 63.4 percent of GDP at the end of 2014, up from 63.0 percent in November and 56.7 percent at the end of 2013. Net debt rose to 36.7 percent from 36.2 percent in November and 33.6 percent in 2013.
($1 = 2.656 Brazilian reais) (Reporting by Silvio Cascione and Luciana Otoni)
© Thomson Reuters 2017 All rights reserved.