The consolidated public sector closed the month of March with a surplus of R$1.2 billion, the Central Bank (BC) reported this Monday (6). In the same month last year, public accounts recorded a deficit of R$14.2 billion. In 12 months, the consolidated public sector, which encompasses the federal government, states, municipalities and state-owned companies, accumulates a deficit of R$ 252.9 billion, equivalent to 2.29% of the Gross Domestic Product (GDP, sum of goods and services produced in the country) and 0.15 percentage points (pp) lower than the deficit accumulated until February.
According to the BC, the Central Government, which brings together the National Treasury, Social Security and the Central Bank, recorded a deficit of R$1.9 billion and state-owned companies a deficit of R$343 million. Regional governments recorded a surplus of R$3.4 billion.
In March, nominal interest from the consolidated non-financial public sector, appropriated on an accrual basis, totaled R$64.2 billion in March, compared to the R$65.3 billion recorded in March 2023.
In the 12 months, up to March this year, nominal interest reached R$ 745.7 billion, standing at 6.76% of GDP, compared to R$ 693.6 billion (6.71% of GDP) in the 12 months until March 2023.
The nominal result of the consolidated public sector, which includes the primary result and appropriate nominal interest, was in deficit by R$63 billion in March. In the 12-month period, the nominal deficit reached R$998.6 billion (9.06% of GDP), compared to a nominal deficit of R$1,015.1 billion (9.24% of GDP) in February this year.
The BC also reported that the Public Sector Net Debt (DLSP) closed the month of March at 61.1% of GDP (R$6.7 trillion), an increase of 0.2 pp of GDP in the month.
“This result reflected the impacts of appropriate nominal interest [aumento de 0,6 p.p.]the effect of the net external debt parity adjustment [redução de 0,1 p.p.]and the variation in nominal GDP [redução de 0,2 p.p.]”, said the BC.
During the year, the DLSP also grew by 0.2 pp of GDP, due to the impacts of nominal interest rates, which registered an increase of 1.9 pp in the accumulated primary surplus, which saw a reduction of 0.5 pp in the effect of nominal GDP growth. , which presented a reduction of 0.9 pp and the effect of the exchange rate devaluation of 3.2% accumulated in the year, with a reduction of 0.4 pp
The Gross Debt of the Central Government (DBGG), which comprises the Federal Government, INSS and state and municipal governments, reached, in March, 75.7% of GDP, reaching R$8.3 trillion. The result represents an increase of 0.2 percentage points in GDP compared to the previous month.
This evolution in the month was due to the effect of appropriated nominal interest (increase of 0.6 pp), net debt redemption (reduction of 0.2 pp), and the variation in nominal GDP (reduction of 0.2 pp). In the year, the 1.3 pp increase in GDP is mainly due to the incorporation of nominal interest (increase of 1.9 pp), net debt issuance (increase of 0.3 pp), and growth in nominal GDP (reduction of 1.2pp).
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