Bras\u00edlia \u2013 The Brazilian federal government has set the 2013 primary surplus target, i.e. savings designed for paying interest on the public debt, at 155.9 billion reals (US$ 85 billion). The sum is equivalent to 3.1% of the estimated Gross Domestic Product (GDP) for that year. In 2012, savings are forecasted at 140 billion reals (US$ 76.3 billion). The figures are part of the Budget Directives Act (Lei de Diretrizes Or\u00e7ament\u00e1rias – LDO) for 2013, which was submitted to the National Congress this Friday (13).<\/p>\n
\u201cThe projections for actual economic growth and lowering of public debt cost will allow for the trend of decline in the net debt of the public non-financial sector in relation to the GDP,\u201d according to a statement issued by the Ministry of Planning.<\/p>\n
The federal government will account for 2.15 percentage points (108.1 billion reals, or US$ 58.9 bn) of the entire projected savings, and the remainder will be up to the states and municipalities to economize (47.8 billion reals, or US$ 26 bn). The projection is aimed at maintaining the downward curve in the net public debt-to-GDP ratio. The goal is to have the percentage down to 27.4% by 2015, as against 36.41% in 2011. The Budget Directives Act GDP growth forecast for 2013 is 5.5%, as against 4.5% this year.<\/p>\n
According to the ministry, \u201cthese targets confirm the government\u2019s commitment to fiscal responsibility, which will contribute to macroeconomic stability and to socially inclusive, sustained growth.\u201d<\/p>\n
The Brazilian minister of Planning, Miriam Belchior, informed that the government does not rule out discounting investment at up to 45.2 billion reals (US$ 24.6 bn) worth of investment made under the Growth Acceleration Programme (PAC, in the Portuguese acronym), a figure equivalent to 0.9% of the GDP, from the target surplus. \u201cOur goal is to pursue the full [primary surplus] target, as we have been doing every year. This is a precaution we exercise so that in case some problem comes up, we will be able to preserve our investment, which is our priority,\u201d she said.<\/p>\n
Miriam also said federal state-owned companies remain target surplus-free. \u201cFederal state-owned companies are discharged so that they are free to invest.\u201d<\/p>\n
*Translated by Gabriel Pomerancblum<\/b><\/p>\n","protected":false},"excerpt":{"rendered":"
The Brazilian government aims to save the amount in order to pay public debt interest next year. The GDP growth forecast is 5.5%, as against 4.5% in 2012.<\/p>\n","protected":false},"author":2315,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[91],"tags":[],"class_list":{"0":"post-41205","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-economy"},"wps_subtitle":"The Brazilian government aims to save the amount in order to pay public debt interest next year. The GDP growth forecast is 5.5%, as against 4.5% in 2012.","_links":{"self":[{"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/posts\/41205","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/users\/2315"}],"replies":[{"embeddable":true,"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/comments?post=41205"}],"version-history":[{"count":0,"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/posts\/41205\/revisions"}],"wp:attachment":[{"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/media?parent=41205"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/categories?post=41205"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/tags?post=41205"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}