We need to escape from this vicious logic. In the period form January to August 2003, notwithstanding our primary surplus of the public sector at almost 5% of the GDP, our nominal deficit reached 5.3%, because payments of interests on the public debt totaled R$ 102.4 billion, 68% more than the payment of interests in the same period of 2002. This amount corresponds to 10.2% of the GDP, or approximately 30% of the tax revenue collected by the three levels of government (Union, states and municipalities). (see the document attached).

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