The result represents a real increase of 37.7%, according to data from the National Treasury; It was also the worst in current values
The government presented a deficit of R$58.44 billion in public accounts in February 2024. The result is the worst for the month.
It represents a real increase – discounting inflation – of 37.7% compared to the same period in 2023, when the negative balance was R$42.44 billion in real terms. The National Treasury released the balance sheet this Tuesday (Mar 26, 2024). Here is the full presentation (PDF – 713 kB).
Here is the trajectory of the primary result for the months of February:
It was also the worst result in current values. When considering this criterion, the shortfall in 2023 was R$40.61 billion.
The primary balance is formed by subtracting revenues from expenses, not counting the payment of interest on the debt.
REVENUES
Total revenue reached R$189.35 billion in February, which represents a real growth of 18% (R$28.95 billion) compared to the same period in 2023. Net revenue – which corresponds to the amount the government has after of making transfers to Federation entities – totaled R$ 132.49 billion, growing R$ 25.09 billion (23.4%) in real terms.
According to the Treasury, the variation is mainly due to these factors:
- Income Tax – increase of R$8.7 billion;
- Cofins (Contribution to the Financing of Social Security) – increase of R$5.8 billion;
- Pis (Social Integration Program)/Pasep (Public Heritage Servant Training Program) – increase of R$2 billion;
- dividends and participations – drop of R$3.7 billion;
- other recipes – increase of 4.3 billion.
EXPENSES
Spending reached R$190.94 billion, an increase of R$41.09 billion (real increase of 27.4%). The growth was mainly due to these reasons:
- judicial sentences and court orders – increase of R$29.4 billion;
- social security benefits – growth of R$3.7 billion;
- mandatory with flow control – sraised R$2.1 billion;
- discretionary – increase of R$3.7 billion.
The Secretary of the National Treasury, Rogério Ceron, stated that the anticipation the discharge of around R$30 billion in court orders – debts that the Executive has to pay by court order – to be paid in 2024 is a “atypical factor”what “brings a distortion”. Payment was scheduled to be made in July.
In an interview with journalists, Ceron also said that “there is no more stock of precatório” and what comes before July will be scheduled for the following year.
YTD
When taking into account the accumulated figures for the months of January and February, there is a surplus of R$20.94 billion. It is lower than the positive balance of R$38.29 billion in current values in the same period in 2023.
When discounting inflation, the surplus was R$20.60 billion in January and February 2024. It is below the R$40.71 billion achieved in the 2 months in 2023, in real terms.
