government accounts have worse results in 19 years of accumulated 2015

The accounts recorded a primary deficit 20,93 billion.
29/10/2015 10h34 - Updated 2/11/2015 17h22
Photo: Jussi Nukari / Lehtikuva / Reuters

The central government accounts (federal government, Central Bank and Social Security) reported a primary deficit (spending more than revenue) from 20,93 billion reais in the year. The data was released on Thursday by the National Treasury. This is the worst results observed in the period from the beginning of the series, in 1997. Until then, the worst performance was computed in the first nine months of 2014, with deficit 15,71 billion reais.

Only in September, the central government had a primary deficit 6,93 billion reais. The result was better than expected by analysts, who expected break-in 14,6 billion reais.

Last month, central government expenditures totaled 89,428 billion reais, it is true (after inflation) from 16,8% compared to the same month of 2014. At the same time, Net revenue totaled 82,49 billion reais, decline 3,1% on the same basis for comparison.

Expenses from January to September totaled 786,64 billion reais at current prices, 4% below the same period last year, in real terms. Year to date, net income was 765,71 billion reais, recoil 4,6% over the same stage 2014.

Last month, Treasury registered a primary surplus of 2,808 billion reais, while the Social Security had a negative balance of 9,69 billion reais and the Central Bank, deficit 49,6 million reais.

These figures come amid continuing difficulties faced by the government to approve a series of measures in Congress deemed necessary for the balance of public accounts. Under this scenario, and amid a deep recession, the economic team reviewed once again the projection for the fiscal results this year, to primary deficit of about 50 billion reais, and the number may be even higher in the case of frustration of revenue and the accounting of calls “tax pedaling”.

Source: Veja.com


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