Brazil's surplus falls 47% interannually in first four months of 2023

Thursday, June 1st 2023 - 10:20 UTC

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The BCB said the consolidated public sector result between January and April was 2.31% of the country's GDP.

Brazil's Central Bank (BCB) reported Wednesday that the South American country's public sector accounts (federal government, states and municipalities, and state-owned companies) recorded a primary surplus of R$ 78.7 billion reais (US$ 15.515 billion) in the first four months of 2023, which represented a 47% YoY drop.

The BCB said the consolidated public sector result between January and April was 2.31% of the country's Gross Domestic Product (GDP).

The primary surplus occurs when tax revenues exceed expenditures, without taking into account interest on public debt. At the same time, consolidated public sector gross debt, rose 0.2 percentage points in April to 73.2 percent of GDP.

In April, Brazil's consolidated public sector accounts recorded a primary surplus of R$20.3 billion (US$4 billion), down from R$38.9 billion (US$7.67 billion) in the same month last year, representing the worst result for the month since 2020.

According to Central Bank data, the federal government recorded a surplus of R$16.9 billion (US$3.33 billion) in its accounts last month, states and municipalities a balance of R$4 billion (US$788 million), and state-owned companies, R$602 million (US$118 million).

If interest on public debt is taken into account, there was a deficit of R$25.4 billion (US$5 billion) in the public sector accounts in April. In the last 12 months to April, the result is a deficit of R$603.3 billion ($118.925 billion), equivalent to 5.92 percent of GDP.

In April, public sector gross debt stood at R$7.45 trillion (US$1.46 trillion), equivalent to 73.2 percent of GDP.

(Source: Xinhua)

Categories: Economy, Brazil.

Tags: Central Bank of Brazil.

Top Comments

Disclaimer & comment rules

Pugol-H
Bras
Sometimes you are no naive, it’s unreal.

In the Budapest memorandum Russia guaranteed Ukraine’s territorial integrity with the existing borders.

That was a less than worthless promise.

If you think the Chinese and Russians are not spying on you then you are not in the real world.

The truth is just about everybody spies on everybody else, with the possible exception of countries like Argentina, who lack the capability and finance necessary.

However you can be sure that Brazil is spying on Argentina, just as Britain is spying on the EU.

Welcome to the real world.
Jun 02nd, 2023 - 03:28 pm +1
Pugol-H
Bras
These figures are not good news, no hiding that.

If, for ideological reasons, you choose pretend that ‘everything is rosy’, then you are on the road to becoming the next ArgenZuela.

Some way off, it has to be said, but on the road nonetheless.
Jun 01st, 2023 - 10:43 pm 0
Esteban Domingo Fernandez
Senor Brasileiro, change your spectacles,
Jun 02nd, 2023 - 07:30 am 0

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