The Ministries of Finance and Planning announced this Friday, the 22nd, a new block of R$600 million in discretionary expenses in this year’s Budget. As a result, the expenditure contingency in 2023 to comply with the spending ceiling increased from R$3.2 billion to R$3.8 billion. The volume is equivalent to 1.96% of the Executive’s discretionary expenses for that year.
The Revenue and Expense Assessment Report for the 4th two months, released this Friday, also reduced the total primary deficit estimate for 2023 to R$141.4 billion. In the July bimonthly report, the total loss estimate was R$145.4 billion.
The Central Government’s primary result target this year is a negative balance of up to R$238.2 billion, but the Treasury was looking for a much smaller gap, of 1.0% of GDP or around R$100 billion.
The economic team’s projection for the Union’s total primary revenue this year went from R$2.366 trillion to R$2.372 trillion. The estimate for net revenue – free of transfers to regional governments – increased from R$1.909 trillion to R$1.914 trillion this year.
On the primary expenditure side, the forecast for total spending in 2023 went from R$2.054 trillion to R$2.056 trillion. With the revisions to this report, the volume of mandatory spending increased from R$1.860 trillion to R$1.861 trillion, while discretionary expenses varied from R$193.9 billion to R$194.6 billion this year.
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