RIO DE JANEIRO, BRAZIL - The consolidated public sector, made up of the federal, state, and municipal government plus state-owned companies, recorded a primary deficit of R$61.872 (US$15.4) billion last year. The data were released on January 31st, by the Central Bank.
It was the sixth consecutive year with negative results in the public accounts. Nevertheless, 2019 figures are the best since 2014, when the deficit had reached R$32.536 billion. The result also represents a great improvement in relation to 2018, when the accounts were negative by R$108.258 billion.
The negative balance . . .