Brazil's Budget Deficit Ends 2017 at 7.8% Of GDP vs. 8.99% of GDP in 2016
By Paulo Trevisani
BRASÍLIA -- Brazil's government struggled to tame a gaping budget deficit in 2017, but showed improvement as the economy began to recover from a historic recession, central bank data released Wednesday show.
Brazil's 12-month budget deficit reached 7.80% of gross domestic product in December, narrower than the 8.99% of GDP shortfall recorded a year earlier.
The so-called primary budget result, which excludes interest payments, was a deficit of 1.69% of GDP in 2017, compared with a deficit equal to 2.49% of GDP the year before.
Brazil's gross debt ended 2017 at 74% of GDP, up from 69.6% of GDP a year earlier.
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(END) Dow Jones Newswires
January 31, 2018 08:06 ET (13:06 GMT)Copyright (c) 2018 Dow Jones & Company, Inc.