04/15/2024 – 17:12
Still facing challenges to balance public accounts this year, the government officially revised the fiscal target for 2025 to a result of 0.0% of GDP, as already anticipated by the Broadcast, Grupo Estado’s real-time news system. The numbers for 2026 and 2027 – 0.25% and 0.50%, respectively, were also revised. For 2028, the target is a surplus of 1.00%. The data is contained in the Budget Guidelines Bill (PLDO), presented by the Ministries of Planning and Finance this Monday, 15th.
The new fiscal framework, approved last year, set bold targets for the government's primary result: starting from a neutral result (0% of GDP) in 2024, the intention was to obtain surpluses and aim to stabilize the debt. Initially, the goals set by the government, still in 2023, were a surplus of 0.5% of GDP in 2025 and 1% of GDP in 2026, numbers that were revised today. According to the rules of the framework, there is a tolerance band of 0.25 percentage points for the result.
The project defined that the primary result for 2025 will be a surplus of R$10.8 billion for the National Treasury, INSS and Central Bank accounts – equivalent to 0.09% of the Gross Domestic Product (GDP). This number excludes, for target purposes, expenses with court orders.
In PLDO 2025, the estimate is a surplus of R$33.1 billion in 2026, a positive result of R$70.7 billion in 2027 and accounts in the black at R$150.7 billion in 2028. The values are equivalent to 0, 25% of GDP, 0.50% of GDP and 1.00%, respectively.
The primary result predicted in PLDO 2025 results from a total primary revenue of R$2.857 trillion (23.07% of GDP) and total expenses of R$2.349 trillion (18.96% of GDP) next year. Primary expenditure subject to the spending limit is estimated at R$2.222 trillion for all powers. Considering only the Executive, the amount is R$2.135 trillion.
The PLDO foresees discretionary Executive expenses of R$212.7 billion in 2025, R$212.3 billion in 2026, R$168.0 billion in 2027 and R$151.1 billion in 2028.
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