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BRASÍLIA – (Updated at 11:28) The consolidated public sector closed the month of May with a deficit of R $ 8,224 billion. In May 2017, the result was a deficit of 30.736 billion reais.
The head of the Central Bank's statistics department, Fernando Rocha, pointed out that the May budget result was influenced by the $ 3.5 billion bailout of the Brazilian sovereign fund, which increased government revenues federal.
He also pointed out that, on the expenditure side, the reduction generated by the advance payment of precatórios for March and April had a positive effect, reducing by 9.5 billion reais the expenditure of May compared to to May 2017.
In total, he explained, the extraordinary effects totaled R $ 13 billion, but the improvement of the primary in the month before the same period of 2017 was R $ 22.5 billion. "Even taking into account specific factors, there has been an improvement in the main result, which results from income performance and expenditure control," Rocha said.
Rocha also noted that the interest account in May was affected by the losses of 6.9 billion reais with the currency swap transactions, in because of the devaluation of the Real against the dollar.
In the year – to – date, the federal, state and municipal governments, in addition to the state governments, had a deficit of 933 million reais, against a deficit of 15.631 billion reais a year earlier.
In the 12 months to May, the primary deficit accumulated 95.885 billion dollars, or 1.44% of gross domestic product (GDP), after reaching 1.78% of GDP in April.
The deficit target for the consolidated public sector for 2017 is R $ 161, In the nominal concept of budget results, which includes interest charges, there has been a deficit of 47.896 billion from reais in May. The result for the month reflected a primary deficit of R $ 8.24 billion and an interest account of R $ 39.672 billion. In the interest account, there is a loss of 6.877 billion reais with currency swaps in May.
Over the year, the nominal deficit is 159.458 billion reais against 190.704 billion reais in the first five months of 2017. (19659010) During the 12-month period ending in May, the deficit nominal is R $ 480,163 billion, or 7.21% of gross domestic product (GDP), after reaching 7.52% in April and 7.8% at the end of 2017. The interest account for The same period totaled R384.278 billion, or 5.77% of GDP, after reaching 5.74% in April.
Data does not include Petrobras and Eletrobras. State banks do not enter the account, since the statistics refer to the nonfinancial public sector.
Sub-national entities
States, municipalities and state entities each reported a primary surplus of R $ 2.570 billion in May, compared to R $ 1.437 billion surplus in the same calendar period previous. This result of subnational entities is that the general government surplus was guaranteed until April, but in May, the central government deficit rose to 14.832 billion reais, overcoming the fiscal effort of the entities subnational. As a result, the general government accumulated a deficit of R $ 933 million between January and May
. In the accounts of the central government, the Treasury has a surplus of 62.863 billion reais, higher than the 35.571 billion reais of the same month. 2017. But the effort is consumed by the social security deficit of R $ 76.308 billion, compared with R $ 70 billion a year earlier.
In 12 months, the fiscal effort of subnational entities is R $ 2.289 billion, up from R $ 1.158 billion in 12 months up to April.
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