The consolidated public sector (Central Government, states, municipalities, and state companies, except for Petrobras and Eletrobras) had a primary surplus of R$20.4 billion (US$3.9 billion) in July, reported on Wednesday, August 31, the Brazilian Central Bank.
It was the best result for the month in the historical series, which began in December 2001.
In June, a surplus of R$14.4 billion was recorded; in the seventh month of 2021, the negative balance was R$10.3 billion. The primary result reflects the difference between public sector revenues and expenses before interest payments on public debt.
With the update of the Fiscal Statistics for June and July, the Central Bank brings this publication up to date, which had been out of date for months due to a strike by Central Bank employees, which ended early last month.
The consolidated primary surplus for July came within the range of estimates by financial market analysts heard by Projeções Broadcast, ranging from a surplus of R$12 billion to R$30.4 billion. The median was positive at R$22.2 billion.
COMPOSITION
The fiscal result for July was composed of a R$20 billion surplus for the Central Government (National Treasury, Central Bank, and INSS).
The regional governments (states and municipalities) positively influenced the result, with R$1.8 billion in the month.
While the states recorded a surplus of R$1.4 billion, municipalities had a positive result of R$334 million. State companies registered a primary deficit of R$1.3 billion.
YEAR-TO-DATE
According to the Central Bank, the public sector accumulated a primary surplus of R$150.3 billion in the year to July, the equivalent of 2.70% of the Gross Domestic Product (GDP).
There was a primary surplus of R$20.4 billion in the seventh month alone. From January to July 2021, the public sector accumulated a primary deficit of R$15.5 billion.
The fiscal surplus in the year to July occurred in the wake of the positive data of R$73.7 billion from the Central Government (1.32% of GDP). Regional governments (states and municipalities) had a R$72.3 billion surplus (1.30% of GDP) in the period.
While the States recorded a surplus of R$57.4 billion, the municipalities had a positive balance of R$14.9 billion. State companies registered a positive result of R$4.4 billion in the year to date until the seventh month.
ACCUMULATED IN 12 MONTHS
According to the Central Bank, the public sector accounts registered a primary surplus of R$230.6 billion in the 12 months to July. The result is equivalent to 2.48% of the GDP.
The consolidated accounts have been blue for 12 months since November 2021. Until June, the consolidated primary result was a surplus of R$199.8 billion.
The fiscal surplus in the 12 months ending in July is composed of a positive balance of R$109.9 billion for the Central Government (1.18% of GDP).
Meanwhile, the regional governments (states and municipalities) showed a R$115.6 billion surplus (1.24% of GDP) in the period. While the States recorded a surplus of R$88.9 billion, the municipalities had a positive balance of R$26.7 billion.
State companies registered a positive result of R$5.1 billion in the 12 months to July.
With information from Exame