Tax law

Accounts of the government have for the first deficit since February 1997

This article was translated by an automatic translation system, and was therefore not reviewed by people.

The accounts of the Central Government (Union, Welfare and the Central Bank) registered a primary deficit, ie, before the payment of interest on debt, of $ 926 million in February this year, informed this Tuesday (31) to National Treasury Secretariat.

It is the first negative result for months of February since the beginning of the series released by the National Treasury Secretariat, beginning in January 1997. In February 2008, the government recorded a surplus of $ 5.21 billion in their accounts.

The worst result for the month of February in the historical series of the National Treasury has happened amid the impact of international financial crisis on the Brazilian economy. In January, the surplus in the accounts of the government had retreated 72% against the same period last year.

Last month, the collection of federal taxes and registered real slump of 11.53% for the slowdown of the Brazilian economy, which is the result of the worsening of the financial crisis.

First term

Accumulated in the first two months of this year, government accounts showed a surplus of $ 3.04 billion, which represents strong decline of 85% over the same period last year, when the positive R $ 20.5 billion.

According to the National Treasury, the revenue of the government were to fall 6%, or U.S. $ 5.5 billion in the first two months of this year, at the same time that spending followed growing. According to the institution, the costs advanced 24.7%.

The increase in expenditure is due, according to the Treasury, to pay more (+ U.S. $ 2.3 billion) from precatory court, the effect of restructuring of careers and salaries of public servants, among others.

Fiscal goals

The goal of primary surplus for the first four months of this year, according to the National Treasury Secretariat, is $ 17 billion and, for this whole year, is $ 66.5 billion, equivalent to 2.15% of GDP. Thus, to meet the goal of the first quarter, the government must present a surplus of approximately U.S. $ 14 billion in March and April this year, or U.S. $ 7 billion per month.

Investments

At the same time as the accounts of the government towards the worse record last year, investments in infrastructure, which are included within the pilot project investment (PPI), the backbone of the Growth Acceleration Program (CAP), following in slow.

In the first two months of this year, the PPI spending totaled R $ 778 million, against R $ 638 million in same period last year. The budget allocation for all the PPI this year is $ 15.6 billion. Thus, still almost U.S. $ 15 billion in spending to the goal be met.

The costs of the PPI may be slaughtered the primary surplus target of the government and the Minister of Planning, Paulo Bernardo, has reported that the Executive intends to make this deduction for the first time in history in 2009. In previous years, the primary surplus was well above the target and there was a possibility that the PPI be slaughtered.

But the government's total investments (which includes, in addition to infrastructure, other areas such as Health and Education, for example) totaled U.S. $ 2.7 billion in the first two months of this year, with growth of 14% against the same period last year . Is still far, however, the appropriation of $ 52.4 billion authorized for this year.

Source: G1

This article was translated by an automatic translation system, and was therefore not reviewed by people.

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