2023-09-29 15:55:00
The first eight months of the new mandate of Luiz Inácio Lula da Silva (PT) resulted in the largest deficit in public accounts recorded in this period for the first year of government.
According to data from the National Treasury, the deficit, the result of expenses exceeding income, amounts to R$ 104.6 billion (US$ 21 billion). This result contrasts with those obtained by Lula in the same period of his two previous administrations, which had surpluses of R$ 107.8 billion (2003) and R$ 129.2 billion (2007) from January to August, already adjusted due to inflation.
The country has been accumulating deficits since 2014, during the administration of Dilma Rousseff (PT). Since then, the only exception occurred in 2022, when oil royalties contributed to a surplus in the last year of Jair Bolsonaro’s (PL) mandate.
Before taking office, Lula negotiated with Congress the approval of a constitutional amendment to increase spending by up to R$ 168 billion this year. The objective was to maintain the social policies that Bolsonaro promoted in the election year. Despite the negative balance, Minister Fernando Haddad (Economy) promises a zero deficit in 2024.
Translated by AZAHARA MARTÍN ORTEGA
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