The consolidated public sector, which includes the federal and regional governments, recorded a primary surplus of R$126 billion in 2022. In the previous year, the public sector result had been a surplus of R$64.7 billion. In total, the result for 2022 recorded a surplus equivalent to 1.28% of Brazil’s GDP.
The central government and state-owned companies presented, respectively, surpluses of BRL 54.9 billion and BRL 6.1 billion, in 2022. Regional governments recorded a surplus of BRL 64.9 billion. The data were released this Wednesday (30) in the Central Bank’s Fiscal Statistics note.
Also according to the Central Bank note, the Gross Debt of the General Government (DBGG), which comprises the federal government, INSS and state and municipal governments, reached 73.5% of GDP in 2022, with a stock of BRL 7.2 trillion . In the year, DBGG had a reduction of 4.8 percentage points in relation to GDP, compared to 2021.
According to the BC, the result is mainly due to “nominal GDP growth (-7.5 pp), net debt redemptions (-4.5 pp), and the incorporation of nominal interest (+7. 5 pp)”.
nominal interest
Nominal interest appropriated from the consolidated public sector amounted to R$586.4 billion (5.96% of GDP) in 2022, while in 2021, this amount was R$448.4 billion (5.04 of GDP). Considering appropriated nominal interest, the nominal result of the consolidated public sector was a deficit of R$ 460 billion last year.
The Central Bank also points out that “with the primary surplus of 2022, 1.28% of GDP, the consolidated public sector maintained the path of improvement in the primary result observed since 2017, interrupted only in 2020, due to the economic and social impacts of the pandemic.”.
Source: CNN Brasil
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