In May, Brazil’s fiscal deficit narrowed to 7.56 % of accumulated Gross Domestic Product over the last 12 months, according to the Central Bank’s report released Monday.

“In May alone, the consolidated nominal public sector deficit of Latin America’s largest economy, which includes primary income and debt interest, was 125.885 billion reais (23.312 billion dollars or 19.669 billion euros),” according to the Central Bank of Brazil.

The figure reported by the financial institution represents a negative balance for the fifth month of the year. More than double that recorded in April, “breaking a streak of three consecutive declines in the nominal deficit since February.”

According to the Central Bank, the primary fiscal deficit, which serves as a benchmark for the country and does not include debt interest payments, showed a “deficit of 33.74 billion reais ($6.248 billion) in May, compared to a deficit of 63.895 billion reais ($11.832 billion) in the same month of 2024.”

The report also reflected the primary deficit of Brazil’s public accounts for the same 12-month period, with a surplus of 24.1 billion reais (approximately $4.462 billion), equivalent to 0.20 % of GDP.

According to the Central Bank, Brazilian President Luiz Inácio Lula da Silva’s goal is to close 2025 with no deficit in his public accounts.

M.Pino

Source: swissinfo

(Reference image source: ORLANDO SANT’ANNA on Unsplash)

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La entrada Brazil reduced its fiscal deficit to 7.56 % of GDP in May apareció primero en Bitfinance.

The monthly inflation rate in Venezuela stood at 26 % last May, according to the Venezuelan Finance Observatory report. In April, the Venezuelan Finance Observatory placed this indicator at 18.4 %.

According to the independent entity, the increase in monthly inflation was due to the rise in the price of the dollar (25 %). The report identified the largest price increases in the following categories: food (31 %), clothing and footwear (34.3 %), healthcare (34.9 %), and education (35 %).

The regional inflation metrics for May highlight the Caracas Metropolitan Area, with 28.2 %; the state of Zulia, with 29.8 %; and Nueva Esparta, an island state, with 26 %.

Analyzing the upward trend in annualized inflation, the OVF established a “relationship with the monetization of the fiscal deficit, as the BCV’s financing to PDVSA increased by 300 %. This monetary financing accounts for much of the rise in the exchange rate in both the official and parallel markets.”

M.Pino

Source: talcual

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La entrada OVF: Annualized inflation in May reached 229 % apareció primero en Bitfinance.

From January to May, Peru recorded cumulative inflation of 1.05 %, while for the month of May, the Consumer Price Index (CPI) nationwide decreased by 0.05 %.

This was reported this Sunday, June 1, by the National Institute of Statistics and Informatics (INEI in Spanish), which also provided sector-by-sector data.

“In Metropolitan Lima, the CPI decreased 0.06 %, accumulating a 1.17 % increase in the January-May period, according to the technical report Variations in Economical Price Indicators from the National Institute of Statistics and Census (INEI).”

The annual rate, which corresponds to the last 12 months, reflected a percentage change of “1.72 % for the national indicator and 1.69 % for Metropolitan Lima.”

According to the INEI, the items that saw decreases last month were food and non-alcoholic beverages (0.40 %), transportation (0.31 %), and lodging, water, electricity, gas, and other fuels (0.18 %).

Regarding consumer prices in May, the institute reported increases in 11 cities, with the highest change observed in Iquitos at 0.33 %.

M.Pino

Source: xinhua.net

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La entrada Peru’s cumulative inflation was 1.05 % from January to May apareció primero en Bitfinance.

Latin America could become a regional benchmark in technology with the possible construction of a spaceport in Peru, with the final study expected to be completed by May 2025.

The South American nation is moving forward with this project, called “Spaceport,” which would provide a strong boost to the country’s scientific, economic, and tourism development. “This ambitious initiative promises to transform the country into a regional benchmark in space technology, boosting scientific, economic, commercial, and tourism development,” local spokespersons have stated.

In this regard, a team of space experts from the United States has traveled to Peru, which has allowed for the strengthening of collaborations with the Peruvian Air Force (FAP) “within the framework of the national aspirations to have a spaceport.”

This is the second visit in the midst of the spaceport feasibility study. “In this final phase, the study evaluated key non-technical aspects. It also strengthened cooperation between the two nations for space development.”

The port seeks not only to boost economic growth and regional security, but also to strengthen technological innovation.

Peru’s privileged geographic location, close to the equator, is a strategic aspect, as it allows for reduced fuel consumption and greater cargo capacity.

The Spaceport project has been approved by the Ministry of the Environment (MINEF)’s IMIAPP , and the country’s Air Force is evaluating the most suitable location. Details remain to be defined, such as the technical conditions for structuring the project, which are being handled by ProInversión. It also remains to be determined whether it will be a state or private initiative.

M.Pino

Source: larazon.pe

(Reference image source: NASA on Unsplash)

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OPEC+, the alliance led by Russia and Saudi Arabia, announced last week the decision to postpone the deadline to increase its crude oil supply until April 1, 2025.

As will be recalled, in 2023, the eight countries that make up OPEC+ agreed to a reduction in oil pumping, following in the footsteps of OPEC, which had already announced this measure in a statement.

The reference is to a total of 2.2 million barrels per day (mbd) that Saudi Arabia, Russia, Iraq, the United Arab Emirates, Kuwait, Kazakhstan, Algeria and Oman “withdrew from the market a year ago and wanted to gradually resume production starting January 1.”

Now, crude oil producers will extend the cuts until the end of March next year and then eliminate them. However, there could be a further extension of the deadline if oil ministers consider that the market is not ready to absorb more barrels.

At the meeting held last Thursday, December 5, the OPEC+ ministerial conference “agreed to extend for one more year, until the end of 2026, the rest of the cuts agreed by 19 of the 22 member countries of the alliance, which total 3.66 mbd.”

The total joint production quota of the 19 countries will remain at 39.725 mbd until December 31, 2026. The exceptions to this commitment are Venezuela, Iran and Libya “due to the involuntary limitations of their oil activity that they face as a result of various causes, such as sanctions or armed conflicts.”

The next OPEC+ ministerial conference has been called for May 28, 2025, when new announcements will be made.

M.Pino

Source: elperiodicodelaenergia

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La entrada OPEC+ postpones deadline to increase crude oil supply until April 2025 apareció primero en Bitfinance.