Brazil gross debt rises to 82.9% of GDP in August

Brazil's gross public debt reached 82.9% of GDP in August, up from 82.6% in July, according to figures released on Wednesday by the Central Bank of Brazil. Net public debt also rose, climbing to 69.3% of GDP from 69.1% the previous month.

Both debt figures came in below the expectations collected in a Reuters poll, which projected 83.0% for gross debt and 69.5% for net debt.

The consolidated public sector recorded a primary deficit of BRL 10.012 billion in August. That shortfall was smaller than the negative balance of BRL 15.7 billion expected by economists surveyed by Reuters.

Within the consolidated figure, the central government posted a deficit of BRL 14.687 billion. That gap was partly offset by regional governments and state companies: states and municipalities posted a primary surplus of BRL 2.688 billion, while state-owned enterprises recorded a positive balance of BRL 1.987 billion, Central Bank data showed.