| SDDS |
Date of last update: 2/9/2012 |
| Category Provider's Data | |
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| Description | |
| The Data: Coverage, Periodicity, and Timeliness | |
Coverage characteristics |
Data are disseminated in Reais (R$) on the general government operations, which comprise: the Central Government (the National Treasury and the Social Security); 27 state governments; and a representative sample of more than 95% of the municipal governments. Data for various aggregates are disseminated for the revenues, the expenditures, the nominal balance, the primary balance, the financing, broken down into external financing and domestic financing (with domestic financing broken down into bank and non-bank), and other aggregates generated by the activity of the public administration in each member of the Federation. The primary balance is consolidated and calculated for each level of government. To consolidate the data, the data on the central and decentralized administrations were added. Data on Central Government, States and State Capitals are calculated on cash basis for the revenues and accrual basis for expenditures. Interest is disseminated on an accrual basis and is presented both in revenues and expenditure. Financing data cover the Central Government (National Treasury and Social Security), the state and the municipal governments. These data are presented by residency. The primary result is consolidated and calculated on a cash basis. The fiscal year is the same as the calendar year. |
Periodicity |
Annual. |
Timeliness |
Annual, for annual data. |
| Access by the Public | |
Advance dissemination of release calendar |
An
advance release calendar that gives one quarter ahead notice of the precise release dates
is published on the website of the Central Bank of Brazil (http://www.bcb.gov.br/sddsi/calendar_i.htm),
and on the IMF’s Dissemination Standards Bulletin Board (DSBB).
A calendar for the entire following year is published on Central Bank's website: http://www.bcb.gov.br |
Simultaneous release to all interested parties |
Data
are disseminated on the Internet in Portuguese at http://www.tesouro.fazenda.gov.br,
prepared by the National Treasury Secretariat.
The "below-the-line" data are published in a monthly press release, being immediately available to all interested parties at the Central Bank's website on the Internet (http://www.bcb.gov.br/?FISCPOLICY). |
| Integrity | |
Dissemination of terms and conditions under which official statistics are produced, including those relating to confidentiality of individual responses |
The National Treasury – NT of the Ministry of Finance compiles and produces data on general government statistics taking into account the Fiscal Responsibility Law (Complementary Law 101 of May 04, 2002) that establishes in article 51: “By June 30, the Federal government's Executive Branch must consolidate the accounts of the Federation entities for the previous year, at the national level and by sphere of government, and disclose them, including the use of publicly accessible electronic media.” The states and municipalities data refer to annual financial statements and balance sheets. The National Treasury Secretariat (Ministry of Finance) consolidates, cross-checks and disseminates the information. The Central Bank of Brazil – CBB compiles and publishes monetary and financial statistics pursuant to the legislation in force, specifically the Law establishing the Central Bank (Law 4595 of Dec. 31st, 1964) and the National Monetary Council resolutions, governing the generation and release of data and information, in particular with regard to the confidentiality of data. The Central Bank guarantees the confidentiality of the data in observance of the established in Article 38 of the Law 4595. The Law 4595, the National Monetary Council resolutions, and other rules issued by the Central Bank of Brazil, as well as other legislation, can be found in Portuguese on the Central Bank's Internet page: http://www.bcb.gov.br/ These laws are available to the public in Portuguese at the website of the Presidency of the Republic, under search of decrees and laws: http://www.planalto.gov.br |
Identification of internal government access to data before release |
The Board of Directors of the Central Bank, the National Treasury Secretary and the Undersecretary of the National Treasury have access to the data before their publication. |
Identification of ministerial commentary on the occasion of statistical releases |
Data are published with explanatory notes and the "below-the-line" data are disseminated with technical comments. |
Provision of information about revision and advance notice of major changes in methodology |
Data are identified as preliminary or final in the publications. Data referring to the last year of the series are always preliminary. Major changes in the current methodology will be published in Bulletins and in other methodological notes. |
| Quality | |
Dissemination of documentation on methodology and sources used in preparing statistics |
The sources used for the compilation and calculation of the data will be identified in the press releases. The calculation methodology will be explained and published in the Bulletins of the National Treasury Secretariat. These information will also be disseminated on the Internet. The methodology utilized for the measurement of fiscal statistics by
the Central Bank according to the “below the line” criterion
is described in the Fiscal Statistics Handbook available in Portuguese at
http://www.bcb.gov.br/?MANESTFIS. |
Dissemination of component detail, reconcilliations with related data, and statistical frameworks that support statistical cross-checks and provide assurance of reasonableness |
The "below-the-line" data (public sector borrowing requirements) compiled by the Central Bank take into consideration the changes in the net debt, including domestic and external financing sources, permitting a certain degree of comparison with the corresponding above the line data, consolidated by the National Treasury Secretariat. The IBGE compiles and produces the basic data on general government statistics taking into consideration the System of National Accounts (SNA) methodology. With the aim of preserving the comparability of the data, the SNA methodology has been applied to the data available since 1991. The National Treasury – NT of the Ministry of Finance compiles and produces data on general government statistics taking into account the Fiscal Responsibility Law (Complementary Law 101 of May 04, 2002) that establishes in article 51: “By June 30, the Federal government's Executive Branch must consolidate the accounts of the Federation entities for the previous year, at the national level and by sphere of government, and disclose them, including the use of publicly accessible electronic media.” The same article determines May 31 and April 30 as the respective deadlines for states and municipalities to send data to the Executive Branch of the Federal Government. Data are to be sent through SISTN, the NT system that is maintained by Caixa Econômica Federal (Federal Savings Bank) by means of agreement with the NT itself. NT defines, through directives, the standard of forms and data tables to be made available by the system, so as to ensure that data gathered by the states and municipalities have a homogeneous accounting plan. Unlike states, some municipalities do not consistently comply with the terms stipulated by the Law. Thus, data obtained by means of SISTN do not include the totality of Brazilian municipalities, although it includes a representative sample of more than 95% of the municipal governments. The National Treasury Secretariat (Ministry of Finance) consolidates, cross-checks and disseminates the information. The data published by the Central Bank and by the National Treasury Secretariat cover the reference period of one year for the general government operations (above and below the line). In addition, the Central Bank also compiles and disseminates monthly below the line data. |
Notes |
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| Dissemination Formats | |||
| Hardcopy | |||
| X | X | News release |
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| Weekly bulletin | |||
| Monthly bulletin | |||
| Quarterly bulletin | |||
| Other | |||
| Electronic media | |||
| X | On-line country bulletin board or database | ||
| X | Internet address |
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| Diskette | |||
| CD ROM | |||
| Other | |||
| Summary Methodology |
| Analytical framework, concepts, definitions, and classifications (including reference to applicable guidelines) |
The basic general government data take into consideration the concepts and definitions of the System of National Accounts, of 1993. To the compilation of these data, some new information has been introduced, such as: revenues and expenditures of public entities, which are legally enterprises, but provide services to support the public administration. The data originated by these entities are included in the consolidated revenues and expenditures of the public administration. The data are consolidated for each level of government and include both the centralized and decentralized administrations. FINANCING - this item is calculated according to the "below-the-line" criterion and corresponds to the nominal variation of the Central Government net debt balance, excluding asset adjustments (methodological adjustment of foreign debt and the dollar-indexed domestic securities debt, adjustments of revenues from privatization and of incorporation of debts related to previous public accounts deficit). The methodology is fully described in the Fiscal Statistics Handbook available at http://www.bcb.gov.br/?MANESTFIS. |
| Scope of the data (coverage of, e.g., institutional units, transactions and stock, commodities, industries, and geographic areas) |
| The national accounts criteria data covers the following entities:
The data sources are: the Annual Budget, the Integrated Financial Management System of the Federal Government (SIAFI) and the balance sheets and financial statements of indirect administration organizations, not included on SIAFI and the annual Balance Sheets delivered by state and municipal governments. The published data on borrowing requirements (below the line) cover the operations of non-financial institutions of the direct and indirect administration, which are consigned in the General Budget of the Federal Government, including the Social Security. |
| Accounting conventions (e.g. time of recording, valuation methods) |
In terms of expenditures, the stages of budgetary and financial execution in Brazil are as follows: preparation of the budgetary proposal, enactment and publication of the Annual Budgetary Law, bidding, performance, production of goods or services by contractors, settlement, and payment. Expenditure commitments refer to the allocation of a share of the budget to a given expenditure, with prior indication of the creditor and of the amount. The settlement consists of the recognition that the expenditure was executed as agreed, and represents acknowledgment of the debt as net and accurate. This is the last stage of budgetary execution of the expenditure. The next and final step is the payment, which is carried out when the subject incurring in the expenditure issues a bank order in favor of the creditor. It should be pointed out that the expenditure is recorded in the accounting books at the time of the settlement, therefore the executed amount, as shown in the books, does not correspond exactly to the disbursed amount, because in certain situations there is a time lag between the settlement and the effective disbursement, due to cash shortfalls. Considering that settlement of the expenditure represents the acknowledgment that it has been properly executed, as well as the right of the creditor to receive the agreed amount, it can be inferred that this is a good criteria for valuing the expenditure. However, given the time lag between the recording and the payment of the settlement, specially when recording the due result, this method of determination also leads to discrepancies between the "above-the-line" criteria fiscal result, calculated by the Ministry of Finance, and the Central Bank’s "below-the-line" criteria figures. Data on state governments and state capitals are calculated on a cash basis whereas data for remaining municipal governments are calculated on a cash basis for the revenues and on an accrual basis for the expenditures. Interest is disseminated on an accrual basis. Accounting data for the central government are compiled on a cash basis. In case of financing, the nominal interests are appropriated according to the accrual basis. As far as scope is concerned, nominal interest of Central Government does not include the CBB. |
| Nature of the basic data (e.g., administrative records, surveys censuses, combinations of these) |
Basic data referring to state and municipal governments collected by NT are fully obtained from the SISTN, and they have declaratory status. The original source of information is the balance sheet of centralized and decentralized administrative units of states and municipalities. NT does not modify the data obtained from SISTN. Data adjustments may occur. The resources and liabilities from the banking system are compiled by the Central Bank of Brazil. Data on financing are obtained from financial system and Central Bank's accounts information, from the balance of payments, from the Special Settlement and Custody System (SELIC) and from the Custody and Liquidation Chamber (CETIP). |
| Compilation practices (e.g., weighting schemes, imputation methods, balancing/cross-checking techniques) |
The primary result is consolidated and calculated for each level of government. The data on the centralized and decentralized administrations are added after exclusion of intragovernmental transfers (paid and received), in order to eliminate double accounting. Data for the states and municipalities are compiled by NT. Consolidation requires elimination of transactions among the levels of
government and is done as follows: State and municipal governments: the amounts are calculated using the
basic data produced by NT as the primary source. Data on state governments and state capitals are calculated on a cash basis whereas data for remaining municipal governments are calculated on a cash basis for the revenues and on an accrual basis for the expenditures. The following items were excluded from the calculation
of the primary result: interest, earnings on deposits, privatization revenues,
cash and credit operations. Payments of interest and amortizations of
the public debt, as well as state and municipal loans, were also excluded. |
| Other aspects (e.g., seasonal adjustment, disclosure avoidance, base years, reference years, transformations from fiscal to calendar years) |
| The Brazilian official statistics exclude privatization revenues from total revenues and compile interest expenditures in an accrual basis, starting from the nominal balance of the net public sector debt. |