It is the highest value for the month since 1995; it represents an increase of 11.95% compared to the same month in 2023
Government revenue Luiz Inacio Lula da Silva (PT) added R$ 201.622 billion in August. This was the highest value for the month since the beginning of the historical series, which began in 1995. The Federal Revenue Service released the data this Thursday (September 19, 2024). Here is the report (PDF – 1 MB) and the presentation (PDF – 670 kB).
Federal revenue increased 11.95% in real terms – values adjusted for inflation – in August compared to the same month last year. The government had obtained a gain in tax revenues of R$180.1 billion in August 2023.
The collection of administered revenues totaled R$195.1 billion in August, with a real increase of 12.06% compared to the same month in 2023. The collection administered by other bodies totaled R$6.5 billion, with an increase of 8.5% in the same period.
In the year to date, federal revenue totaled R$1.748 trillion in inflation-adjusted amounts. This represents an increase of 9.47% compared to the total from January to August of the previous year.
PUBLIC ACCOUNTS
The increase in revenue is favorable for the government, which seeks to meet the goal of eliminating the deficit in public accounts by 2024. The National Treasury recorded a primary deficit – which excludes the payment of interest on the debt – of R$233.3 billion in the 12 months up to July.
According to the Prisma Fiscal report from the Ministry of Finance, economic agents expect a primary deficit of R$66.67 billion in 2024. Here is the full of the report (PDF – 276 kB).
The Ministry of Planning and Budget has until Friday (20th September) to publish the Bimonthly Revenue and Expenditure Assessment Report. The document is published every 2 months to indicate the government’s estimates for the current year’s expenditure and revenue.
On July 22, the government announced a freeze of R$15 billion on the 2024 Budget: blocking R$11.2 billion on discretionary expenses and a contingency of R$3.8 billion to stay within the target limit – which is a deficit of up to R$28.8 billion.
Understand the difference:
- blockage – the government is reviewing budget expenditures, which were higher than allowed by the fiscal framework. It is more difficult to reverse;
- contingency – is done when there is frustration of expected revenues in public accounts.
In July, the federal government estimated a deficit of R$32.6 billion in public accounts in 2024.
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