Brazil’s public sector has a primary surplus of R$15 billion in November

RIO DE JANEIRO, BRAZIL – The consolidated public sector closed November with a primary surplus of R$15 billion, as the Brazilian Central Bank reported on Thursday. A year earlier, the result had been in deficit, at R$ 18.1 billion.

The consolidated public sector data involve the central government (Social Security and the Treasury, besides the Central Bank), states, municipalities, and state-owned companies. Excluding Petrobras, Eletrobras, and public banks, such as Banco do Brasil and Caixa Econômica Federal.

The result of the penultimate month of 2021 reflected a central government surplus of R$3.5 billion and R$11.7 billion from the states and municipalities. State companies had a deficit of R$238 million.

In the 12 months through November, the surplus reached R$ 12.8 billion, equivalent to 0.15% of the Gross Domestic Product (GDP).

Moreover, in the first 11 months of the year, the government recorded a surplus of R$64.6 billion against a deficit of R$ 651 billion in the same period in 2020.

By the nominal criterion, which includes interest expenses, there was a deficit in public accounts in November of R$ 26.6 billion. A year earlier, the result had been a deficit of R$75.8 billion.

The result reflected the R$15 billion primary surplus and a R$41.6 billion interest account.

In the 12 months ended in November, the nominal deficit stood at R$ 405.2 billion, the equivalent of 4.71% of GDP. In October, it stood at 4.68% of GDP. The interest account in the same period totaled R$418 billion, or 4.86% of GDP, coming from 4.44% in October.

In the first 11 months of 2021, the nominal deficit was R$329.4 billion, compared to R$939.6 billion in the same period of 2020.

The data do not include Petrobras and Eletrobras. State-owned banks are also not included, as the statistics refer to the non-financial public sector.

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