In the year to last month, the savings for the payment of interest was a negative R $ 9.05 billion (Marcelo Sayao / EFE / SEE)
The central government (Treasury, Central Bank and Social Security) registered a primary deficit of 7.22 billion reais last month, the worst result for July for the series, which began in 1997, according to the National Treasury on Thursday. In the year to last month, the savings for the payment of interest was negative by 9.05 billion reais, also the lowest since 1997. In July 2014, government accounts had recorded a deficit of 2.21 billion reais.
The federal revenues, which recorded the worst performance from January to July since 2010, impacts the outcome of the public accounts. Revenues were adversely affected by the economic downturn and the exemption of taxes in an attempt to boost the economy.
The cumulative deficit of the year corresponds to 0.32% of Gross Domestic Product (GDP). In the same period last year, the accounts had a surplus of 15.14 billion reais - but the comparison base is unbalanced due to tax makeup carried forward by the government until the end of 2014. In 12 months, the deficit is 43 9 billion reais, equivalent to 0.77% of GDP.
Struggling to bring the primary balance into the positive range, the government reduced the fiscal target of 1.1% to 0.15% of GDP, equivalent to 5.8 billion reais. However, the government itself sees to discredit the new target, due to the accelerated fall of the collection process. The Ministry of Finance, there is a perception that the government will end the year with a deficit, but the result can go to the field because of the positive PAC rebates allowed by law.
The result of revenues July represent a real decrease of 4.7% compared to July 2014. expenditures had real increase of 0.7%. In the first seven months of the year, government revenue fell 4.7% and expenses increased 0.4%.
Treasury - The accounts of the National Treasury registered a primary deficit of 1.72 billion reais in July, according to data released by the agency. As for the Social Security accounts registered a deficit of 5.67 billion reais last month. Central Bank bills, in turn, had a positive balance of 174 million reais in July.
Investments - In the first seven months under the command of the new economic team, government investments recorded a real decrease of 36.6%. According to Treasury data, the paid investment totaled 32.26 billion reais. Of this, 23.58 billion reais are outstanding commitments, ie prior years' expenses that were transferred to 2015. In July, the cost of investments were 4.46 billion, down 39.1% over the same month 2014.
Investments with the Economic Acceleration Program (PAC) amounted to 3.31 billion in July and 23.86 billion reais in the first seven months of the year, which represents a fall of 39.6% in July and 36.5% in the accumulated of the year.
(With Reuters and Estadão Content Agency)
