The General Government’s gross debt rose to 79% of the Gross Domestic Product (GDP) in November. In October, it was at 78.4%, the Central Bank (BC) reported this Tuesday (30).
The General Government is made up of the federal, state and municipal governments, in addition to the National Social Security Institute (INSS).
“This increase was mainly due to appropriated nominal interest (0.7 pp), net debt issues (0.4 pp) and the variation in nominal GDP (-0.4 pp)”, detailed the monetary authority.
Public sector net debt reached 65.2% of GDP in November, a result that represents an increase of 0.5 pp, taking GDP in the month as a reference
“This result reflected the impacts of the appropriate nominal interest (0.7 pp), the exchange rate appreciation of 0.9% in the month (0.1 pp), the primary deficit (0.1 pp), the effect of the variation in nominal GDP (-0.4 pp), and other adjustments to the net external debt (-0.1 pp)”, explained the Central Bank.
