The so-called General Government ─ which includes the Union and its powers, states and municipalities ─ needed R$741.3 billion to close the accounts in 2024. This indicator is known as net financing need. 
In other words, the data shows how much the sector had to take on debt last year. The amount represents a drop of 12.2% in relation to the net financing need for 2023. These accounts already include expenses with interest payments on public debt.
The information is part of the study Public Finance Statistics and Government Intermediate Account, released this Wednesday (26) by the Brazilian Institute of Geography and Statistics (IBGE), in partnership with the National Treasury Secretariat and the Central Bank (BC).
The survey reveals that the need for financing is divided as follows:
- Central Government: R$670.3 billion
- State: R$55.5 billion
- Municipal: R$ 15.5 billion
The Central Government includes, in addition to the Federal, Legislative and Judiciary Government, dependent state-owned companies, Social Security, bodies and entities of direct and indirect administration.
Revenue and expenses
The IBGE report points out that the 12.2% reduction in financing needs reflects the nominal growth (without discounting inflation) of 12.7% in revenue compared to an 8.5% increase in expenses.
Looking at revenue growth, tax collection grew 16.3%; and social contributions, 8.2%.
On the expenditure side, the item social security and assistance benefits, the most important item, increased by 6%, with emphasis on age and disability assistance benefits, with an increase of 18.2%.
In 2024, the General Government spent R$971 billion on interest payments. This amount represents 52% of what the country as a whole spends on social security and assistance benefits (R$1.9 trillion).
The largest shares of revenue and expenses go to the Central Government.
