The reason was the delay in transferring collection data from the Federal Revenue; Central Bank publishes data on public sector accounts on Monday (Dec 30)
The delay in the transfer of Federal Revenue collection data caused the National Treasury to postpone the release of the results of November’s public accounts by almost two weeks. Initially scheduled for Friday (Dec 27, 2024), the announcement will be made on January 15, 2025, at 2:30 pm.
At the end of each month, the National Treasury publishes the results of the central government’s accounts (National Treasury, Social Security and Central Bank), which show a primary deficit or surplus for the previous month. Made based on the comparison between primary revenues and expenses, the statistics disregard interest on public debt.
Data relating to expenses are calculated based on Siafi (Integrated Financial Administration System). Revenues consider both collections from the Federal Revenue (taxes) and revenues not administered by the Tax Authorities, such as dividends from state-owned companies and royalties of oil. This system is called “above the line” by the government.
Traditionally, the IRS releases revenue in the 3rd week of each month or at the beginning of the last week, a few days before the Treasury presents the primary result statistics. However, the IRS has not released last month’s data until now. It also did not provide the reasons for the delay – which prevented the Treasury from providing the November figures.
Public accounts
Despite the delay in Treasury statistics, the Central Bank confirmed that it will release, on Monday (Dec 30, 2024), the results of the public sector accounts for November. Unlike the Treasury’s result, the accounts presented by the BC consider the primary deficit or surplus of the Union, States and municipalities, not just the central government.
Another difference in relation to the Treasury is that the BC uses the “below the line” methodology, in which it analyzes variations in the debt of the federal government and local governments to arrive at the primary result of the public sector. This allows the monetary authority to calculate statistics without collection data from the Federal Revenue Service.
The BC results are taken into account to assess whether the government met the primary result target established by the LDO (Budget Guidelines Law) and the fiscal framework. For 2024, the legislation sets a target of zero primary result, with a tolerance margin of R$28.75 billion (0.25% of GDP) up or down.
With information from .