Brazil Public accounts are negative at R $ 13.491 billion in June
Brazil
Public accounts are negative at R $ 13.491 billion in June
Primary deficit totals R $ 13.491 billion
Primary deficit, revenues less expenses, excluding interest expenses, was R $ 13.491 billion (Arquivo / Agência Brasil)
The consolidated public sector, made up of the federal government, the states and municipalities, registered a negative balance in the public accounts in June, according to data from the Central Bank (BC), released today (30) in Brasilia.
The primary deficit, revenues minus expenses, excluding interest expenses, was R $ 13.491 billion, a result lower than the same period of 2017, when it reached R $ 19.552 billion.
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The June primary deficit was the lowest result for the month since 2016, when it stood at R $ 10.1 billion.
According to the deputy head of the BC's Statistics Department, Fernando Lemos, "the evolution of public sector accounts has been very positive." "The main reason for this improvement in June was the increase of 2% in revenues and the retraction of 1.1 in expenses," Lemos said.
In June, the negative result came from the Central Government (Social Security, Central Bank and National Treasury), which presented a primary deficit of R $ 14.951 billion.
Of this result, the majority came from Social Security, with a deficit of R $ 14.513 billion. On the other hand, the state and municipal governments recorded a positive balance.
COMPANIES HAVE SURPLUS
The state governments had a primary surplus of R $ 6 million, and the municipal governments, of R $ 347 million. State, federal and state-owned companies, excluding those of the Petrobras and Eletrobras groups, recorded a primary surplus of R $ 1.107 billion last month.
In the first half, there was a primary deficit of R $ 14.424 billion, against a negative result of R $ 35.183 billion in the same period of 2017.
In the 12 months ending June, the public accounts had a negative balance of R $ 89.823 billion, corresponding to 1.34% of the Gross Domestic Product (GDP), the sum of all goods and services produced in the country.
The target for the consolidated public sector is a deficit of R $ 161.3 billion this year. Interest expenses stood at R $ 44.450 billion in June, against R $ 31.511 billion in the same month of 2017.
From January to June, these expenses reached R $ 202.976 billion, against R $ 206.584 billion in the same period of 2017. In the 12 months ending June, interest expenses totaled R $ 397.217 billion, corresponding to 5.94% of GDP.
The nominal deficit, consisting of the primary result and interest income, reached R $ 57.941 billion last month against R $ 51.063 billion in June 2017.
In the first half, the negative result was R $ 217.4 billion, against R $ 241.767 billion in the same period last year. In 12 months, the nominal deficit was R $ 487.041 billion, corresponding to 7.28% of GDP.
PUBLIC DEBT
The net debt of the public sector (balance between the total credits and debits of federal, state and municipal governments) reached R $ 3.440 trillion in June, corresponding to 51.4% of GDP, up from May , 3% of GDP).
In the year, net debt to GDP fell by 0.2 percentage point. According to the Central Bank, this reduction was mainly due to the 16.6% increase in the dollar.
Public debt falls when the dollar is high because international reserves, the main asset of the country, are made of foreign currency.
In June, gross debt - which only accounts for federal, state and local government liabilities - reached R $ 5.165 trillion or 77.2% of GDP, up 0.1 percentage point from May.
Edition: Kleber Sampaio
Posted on 7/30/2018 - 11:16 AM
By Kelly Oliveira - Agência Brasil BrasiliaReporter
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