The deficit in public accounts has reached R$ 108,2 billion, equivalent to 1,57% of GDP.
The consolidated public sector ended 2018 with a negative balance in public accounts for the fifth consecutive year; according to the Central Bank (BC), the primary deficit was R$ 108,258 billion, which corresponds to 1,57% of GDP; however, this result was below the target, which was a deficit of R$ 161,3 billion.
Kelly Oliveira, reporter for Agência Brasil - The consolidated public sector, made up of the Union, states and municipalities, ended 2018 with a negative balance in public accounts, according to data released today (31) by the Central Bank (BC). The primary deficit, revenues minus expenses, without considering interest payments, was R$ 108,258 billion, which corresponds to 1,57% of everything the country produces - Gross Domestic Product (GDP).
This was the fifth consecutive year of negative results for public accounts: R$ 32,536 billion in 2014; R$ 111,249 billion in 2015; R$ 155,791 billion in 2016; and R$ 110,583 billion in 2017.
The 2018 result fell short of the target for the consolidated public sector, which was a deficit of R$ 161,3 billion.
Last year, the Central Government (Social Security, Central Bank, and National Treasury) recorded a deficit of R$ 116,167 billion. State governments presented a surplus of R$ 4,734 billion, and municipalities, a negative balance of R$ 1,242 billion. Federal, state, and municipal state-owned companies, excluding those in the Petrobras and Eletrobras groups, recorded a primary surplus of R$ 4.417 billion.
Interest expenses
Interest expenses totaled R$ 379,184 billion last year, compared to R$ 400,826 billion in 2017. This result corresponded to 5,52% of the Gross Domestic Product (GDP), the sum of all goods and services produced in the country.
The nominal deficit, comprised of the primary surplus and interest expenses, reached R$ 487,442 billion, equivalent to 7,09% of GDP.
Public debt
The net debt of the public sector (balance between total credits and debits of the federal, state and municipal governments) reached R$ 3,695 trillion in December 2018, which corresponded to 53,8% of GDP, an increase of 0,4 percentage points compared to November.
In December, the gross debt – which only accounts for the liabilities of the federal, state, and municipal governments – reached R$ 5,272 trillion, or 76,7% of GDP, a decrease of 0,6 percentage points compared to November.