Brazil: the government recorded a primary surplus of US$3.1 billion in April

The central government recorded a primary surplus of R$15.6 billion (US$3.1 billion) in April, lower than that obtained in the same month last year, of R$29 billion (US$5.76 billion), according to data from the Ministry of Finance released on Tuesday (30).

The drop in the amount was due to tax waivers made by the public administration, according to Rogério Ceron, secretary of the Treasury.

“Given the context of revenue waiver, we consider it an important result that contributes to the year’s performance,” he said.

While the National Treasury and the Central Bank obtained a positive balance of R$36.4 billion, Social Security registered a R$20.8 billion deficit in the month.

In the year to date, the difference between total expenses and net revenues adds up to a R$47.1 billion surplus. In the 12 months, the result was a surplus of R$22.3 billion, equivalent to 0.22% of the GDP.

According to the ministry, the value is below the primary deficit target for this year of up to R$231.5 billion as per the Annual Budget Law (LOA).

The Ministries of Finance and Planning and Budget project a negative result of R$136.2 billion, as stated in the Evaluation Report on Primary Revenue and Expenditure for the 2nd bimester.

With information from Gazeta do Povo

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