Preview of tax burden rises to 33.9% of GDP in 2021

Public accounts have a positive result in February

Public accounts closed February with a primary surplus of BRL 3.471 billion, the Central Bank reported today (2), the best result for the month since 2012, when the consolidated public sector was in the dark with BRL 9.514 billion.Public accounts have a positive result in February

The result of February keeps the accounts in the positive after a January with the primary surplus of R$ 101.833 billion, the highest monthly number of the entire BC historical series. In February 2021, a deficit of BRL 11.770 billion was recorded.

To arrive at the primary result, the difference between public sector expenditures and revenues is calculated, before the payment of interest on the public debt. The consolidated public sector includes central, state and municipal governments, as well as public companies (with the exception of Petrobras and Eletrobras).

The fiscal statistics released by the BC on Monday (2) are outdated due to the civil servants’ strike, which delayed the release of some data. The stoppage should resume tomorrow (3), which may compromise future disclosures.

In February, the positive result was provided mainly by the surplus of R$ 20.172 billion presented by states and municipalities. State-owned companies also recorded a surplus of R$ 2.480 billion. The central government (National Treasury, Central Bank and Social Security), however, closed the month with a deficit of R$ 19.181 billion.

With the result of February, the surplus accumulated in the year reached R$ 105.304 billion. In the last 12 months, the accounts are in the black at R$ 123.427 billion, equivalent to 1.4% of the Gross Domestic Product (GDP), according to the Central Bank.

The country’s gross debt stood at 79.2% of GDP in February, against 79.5% in January. Net debt was 57.1%, compared to 56.6% in the previous month.

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