The Central Government, which includes the National Treasury, Social Security, and the Central Bank, recorded the largest primary deficit for March in three years.
According to data released by the National Treasury, the result was negative R$7 billion (US$1.4 billion), 10.4% higher than the R$6.4 billion (US$1.28 billion0 deficit obtained in March 2022.
After discounting inflation by the National Wide Consumer Price Index (IPCA), the deficit is 5.5% bigger than last year’s, both in nominal and real values.
The March result was the worst for the month since March 2020, when there was a primary deficit of R$21 billion (US$4.2 billion).
This year’s Budget Guidelines Law (LDO) establishes a primary deficit target of R$231.5 billion (US$46.28 billion) for the Central Government.
According to the Economic Policy Secretariat, this year’s primary deficit forecast is R$99 billion (US$19.79 billion).
Net revenues grew 3.4% compared to March last year, while total expenses rose 3.7% in nominal terms.
Discounting inflation by the IPCA, there was a drop of 1.2% in revenues and 0.9% in expenses.
The administered revenues related to tax payments fell by 6.2% in March concerning the same month of 2022, also discounting inflation.
The biggest drop was in the Tax on Industrialized Products (IPI), at 23.7%, followed by the Contribution for Social Security Financing (Cofins) at 24.4%.
Both were motivated by tax breaks granted by the Bolsonaro government.
With information from Revista Oeste
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2,828,027
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| Instrument | Last | Change | YoY | Prev. | High | Low | Volume |
|---|---|---|---|---|---|---|---|
| IBOV | 209,066.90 | +1.38% | +21.85% | 206,220.24 | 168,310 | 167,142 | — |
| USD/BRL | 5.16 | +0.01% | -5.13% | 5.16 | 5.18 | 5.14 | — |
| SELIC | 14.00% | — | — | — | — | — | |
| PETR4 | 41.64 | -0.05% | +35.19% | 41.66 | 41.97 | 41.15 | 41,499,400 |
| VALE3 | 72.97 | +0.83% | +30.75% | 72.37 | 73.54 | 72.66 | 17,658,000 |
| ITUB4 | 38.60 | -1.03% | +4.57% | 39.00 | 39.34 | 38.39 | 29,487,800 |
| BBDC4 | 16.85 | +0.36% | +3.50% | 16.79 | 16.90 | 16.67 | 19,416,900 |
| BBAS3 | 19.37 | +0.47% | +0.73% | 19.28 | 19.44 | 19.16 | 11,069,200 |
| B3SA3 | 14.26 | -0.21% | +12.73% | 14.29 | 14.47 | 14.11 | 33,037,800 |
| ABEV3 | 14.89 | -0.80% | +21.91% | 15.01 | 15.07 | 14.81 | 16,453,100 |
| WEGE3 | 47.59 | +0.49% | +29.99% | 47.36 | 48.08 | 47.36 | 3,364,600 |
| PRIO3 | 59.14 | -0.19% | +50.67% | 59.25 | 59.81 | 58.74 | 3,325,600 |
| SUZB3 | 41.33 | +2.35% | -23.55% | 40.38 | 41.48 | 40.35 | 3,914,900 |
| RENT3 | 34.68 | -0.09% | +0.84% | 34.71 | 34.96 | 34.35 | 7,979,100 |
| AZZA3 | 15.89 | -2.63% | -53.76% | 16.32 | 16.42 | 15.82 | 1,330,300 |
| CSNA3 | 4.30 | +0.47% | -42.65% | 4.28 | 4.41 | 4.26 | 10,076,100 |
| GGBR4 | 24.69 | +2.19% | +51.38% | 24.16 | 24.85 | 24.18 | 7,047,600 |
| ENEV3 | 24.21 | -1.38% | +70.49% | 24.55 | 24.64 | 23.99 | 9,297,000 |
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