In 2011 up to August, the net public debt to GDP fell from 40.2% to 39.2%. The contribution of of public sector borrowing requirements was negative, with the payment of interest exceeding the primary surplus in 1.7%. On the other hand, the effect of GDP growth had an impact of 2.8% reduction in net debt to GDP. The chart below ilustrates the conditioning factors of net debt evolution.
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| Source: Central Bank of Brazil |
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