Consolidated public sector registers surplus of BRL 27.1 billion in October

The consolidated public sector, which includes the federal and regional governments, recorded a primary surplus of R$ 27.1 billion in October this year. In the same month of the previous year, the result of the public sector had been a surplus of R$ 35.4 billion.

In the twelve months ended in October of this year, the consolidated sector already recorded a surplus of R$ 173.1 billion, equivalent to 1.82% of GDP.

The central government and state-owned companies presented, respectively, surpluses of R$ 30.2 billion and R$ 711 million. Regional governments registered a deficit of R$ 3.9 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 76.8% of GDP in October this year, with a stock of R$ 7, 3 trillion. This represents a reduction of 0.3 percentage points of GDP, compared to the previous month.

According to the BC, “this evolution was mainly due to the effect of nominal GDP growth (-0.7 pp), net debt redemptions (-0.1 pp), nominal interest appropriated (+0.6 pp) and the effect of exchange rate appreciation (-0.1 pp)”.

nominal interest

Nominal interest appropriated from the consolidated public sector totaled BRL 41.6 billion in October of this year, while in the same year of 2021, this amount was BRL 60.4 billion. According to the Central Bank, the increase was mainly influenced by the result of exchange swap operations.

Considering appropriated nominal interest, the nominal result of the consolidated public sector was a deficit of R$ 14.5 billion in October 2022. In the accumulated twelve-month period, the nominal deficit reached R$ 400.1 billion, equivalent to 4.21% of GDP. This indicates a reduction of 0.15 pp in relation to the accumulated deficit until September 2022.