Brazilian gov't posts 14 bln dollars surplus in 1st half

The Brazilian government posted a primary surplus of 24.8 billion reais (14 billion U.S. dollars) in the first half of 2010, up 34 percent from the same period last year, the Treasury Department said Wednesday.

The amount is equivalent to 1.46 percent of the Brazilian gross domestic product (GDP), compared to a surplus of 1.24 percent of GDP in the same period of 2009.

The Treasury Department accumulated a primary surplus of 47.7 billion reais in the first half of 2010, a year-on-year increase of 9.25 percent.

The Social Security System, on the other hand, registered a primary deficit of 22.5 billion reais, up 6.1 percent year on year.

The Central Bank also posted a deficit of 285 million reais, up 8.1 percent from the same period in 2009.

The primary budget of the Brazilian government in June registered a surplus of 631.5 million reais after posting a deficit of 517.9 million reais last month. (1 U.S. dollar = 1.7693 reais)

Source: Xinhua