The stock of the Federal Public Debt (FPD) increased by R$337.8 billion in 2022, i.e., an increase of approximately 6.0% compared to the previous year. According to the National Treasury, this FPD variation is explained by the appropriation of interest in the amount of R$556.0 billion, partially offset by net redemptions of R$218.2 billion.
According to data released this Thursday (26) by the National Treasury, the debt stock in 2022 was below the lower limit of the Annual Financing Plan (PAF), mainly due to the net redemption of DPMFi (Federal Public Debt). Interior furniture) of R$ 211.3 billion.
“This value corresponds to a refinancing rate (issues/redemptions) of the DPMFi of 83.3%, which is mainly due to the realization of issues in amounts below the average in months of greater volatility of the year.”, states the document .
Also according to the Treasury, the average FPD cost increased in 2022 due to the upward movement in the basic interest rate, the Selic, and its reflections on the domestic yield curve.
After reaching the lowest value in the historical series in February 2021 (7.15% per year), the 12-month average cost of outstanding DPMFi rose again, reaching 10.8% per year at the end of 2022.
Debt cushion in 2022
The debt liquidity reserve ended 2022 with a stock of BRL 1.18 trillion, an amount equivalent to approximately 8.4 months of debt maturities on the market. “This level brings high security for debt management, especially if we consider that the minimum reference understood as security is equivalent to three months of maturity”, says the Treasury.
According to the Treasury, the FPD cushion remaining at high levels was mainly due to the inflow of resources from other sources, such as the payment of BNDES credits to the Union, and the allocation of R$ 21.3 billion in free resources for debt payment, reducing the impact of net redemptions on the debt cushion.
“We mention the untying of funds (R$ 46.7 billion), the return of Union credits with Public Banks (R$ 95.1 billion), of which the largest part refers to prepayments of BNDES loans ( BRL 72.3 billion), the receipt of credits from subnational entities (BRL 43.5 billion), the result of the Central Bank (BRL 72.8 billion) and dividends (BRL 87.0)”, says the farm.
Source: CNN Brasil
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