BRASILIA (Reuters) -Brazil’s public finances performed better than expected in August, with debt levels remaining stable and the primary deficit coming in below forecasts, central bank data showed on Tuesday.

The gross public sector debt of Latin America’s largest economy stood at 77.5% of gross domestic product (GDP), unchanged from the previous month, while economists polled by Reuters had expected the ratio to rise to 78.0%.

According to the central bank, the heavy interest bill for the month – typically a factor pushing debt higher – was offset by nominal GDP growth, net debt redemptions and the impact of currency appreciation.

The public sector posted a primary deficit of 17.26 billion reais ($3.24 billion) in August, narrower than the 21 billion reais shortfall projected in the Re

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