Official data indicate that the primary deficit of the Brazilian public sector shrank to 89.49 billion reais (US$22.26 billion) in the 12 months ended November 30, reducing the Brazilian national debt for the third month in a row, Reuters reports.

The news agency, citing figures given by the Brazilian central bank, says the primary deficit, which excludes interest payments, was the equivalent of 1.24 percent of gross domestic product in the 12 months ended November 30, the smallest proportion for 13 months, having been 1.25 percent in the 12 months ended October 31.

The latest forecasts are that the public-sector primary deficit will be between 60 billion reais and 80 billion reais this year, much narrower than the deficit of 130 billion reais or more forecast by the Brazilian government at the beginning of the year.