Fiscal statistics

PRESS RELEASE - May 30, 2018

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1. Fiscal results

The consolidated public sector registered a primary surplus of R$2.9 billion in April. The Central Government and state-owned companies posted respective surpluses of R$5.4 billion and R$26 million, while regional governments turned in a deficit of R$2.5 billion.


In the first four months of the year, the public sector's primary result posted a surplus of R$7.3 billion, compared with a surplus of R$15.1 billion in the same period of 2017. In the 12-month cumulative period until April, the consolidated public sector posted a primary deficit of R$118.4 billion (1.78% of GDP), 0.14 p.p. of GDP higher than the 12-month cumulative deficit until March.


Nominal interests of the consolidated public sector, appropriated on an accrual basis, reached R$29.7 billion in April, compared with R$32.5 billion in March and R$28.3 billion in April 2017. Over the last twelve months, nominal interests reached R$380.9 billion (5.73% of GDP), maintaining, as a percentage of GDP, the same level registered in March.

The nominal result of the consolidated public sector, which includes the primary result and nominal interests appropriated on an accrual basis, posted a deficit of R$26.8 billion in April. In the 12-month period ended in April, the cumulative nominal deficit reached R$499.3 billion (7.51% of GDP), an increase of 0.14 p.p. of GDP when compared with the 12-month cumulative deficit until March.


2. Public Sector Net Debt (PSND) and General Government Gross Debt (GGGD)

PSND reached R$3,448.1 billion (51.9% of GDP) in April, a decrease of 0.5 p.p. of GDP compared with the previous month, mostly due to the exchange rate devaluation occurred in the month. In the first four months of the year, the expansion of 0.3 p.p. in the PSND/GDP ratio was consequent upon the incorporation of nominal interests (increase of 1.8 p.p.), the primary surplus (reduction of 0.1 p.p.), the effect of the accumulated exchange rate devaluation of 5.2% (reduction of 0.8 p.p.), and the effect of nominal GDP growth (decrease of 0.7 p.p.).

GGGD - which comprises the Federal Government, INSS and state and municipal governments - reached R$5,045.7 billion in April, equivalent to 75.9% of GDP, expanding 0.6 p.p. of GDP when compared with the value registered in March and 1.9 p.p. in relation to the end of the previous year.