According to data released by the Central Bank (BC), this Monday (11), the primary deficit of state-owned companies reached R$7.4 billion, from January to September 2024. It is the worst result for the period since the beginning of the BC historical series, in 2002.
The value also represents an increase of 258.9% in relation to the deficit of state-owned companies recorded in the same period last year, when the primary deficit was R$2.06 billion.
In federal state-owned companies, the negative result was R$4.1 billion. The loss of regional state-owned companies (state and municipal) was R$3.3 billion from January to September.
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The federal government’s loss exceeds R$ 105 billion in the year
The numbers calculated by the BC do not include Petrobras, Eletrobras and public banks.
The data considers all revenues and expenses of state-owned companies, but does not account for the state-owned company’s net profit.
Public sector debt
Furthermore, according to the BC, in September the General Government Gross Debt (DBGG) – which covers the Federal Government, INSS and state and municipal governments – reached 78.3% of GDP (R$8.9 trillion) in September 2024, a reduction of 0.2% compared to the previous month.
Public Sector Net Debt (DLSP) reached 62.4% of GDP (R$7.1 trillion) in September, an increase of 0.4% in the month.
According to the BC, “this result reflected in particular the impacts of the exchange rate appreciation of 3.7% in the month (+0.5 pp), appropriated nominal interest (+0.4 pp), variation in nominal GDP ( -0.4 pp), and other adjustments to net external debt (-0.2 pp).
In the year to date, the DLSP rose 1.5%, according to the BC, “mainly due to the impacts of nominal interest rates (+5.7 pp), the primary deficit (+0.8 pp), the recognition of debts (+0.2 pp), the effect of nominal GDP growth (-2.9 pp), the effect of the exchange rate devaluation of 12.5% accumulated in the year (-1.3 pp), other debt adjustments net foreign exchange (-0.7 pp), and the privatization adjustment (-0.3 pp)”.
