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Mixed Budget Commission approves an increase of BRL 72 billion for 2022

With revision, 2022 budget deficit is close to being zeroed
Agência Brasil
Published on 01/12/2021 - 23:00
Brasília
.Real-Moeda Nacional
© Marcello Casal jr/Agência Brasil

The 2022 Budget Law Project (PLOA 2022), defined by PLN 19/2021, gained an increase in funds of R$ 72.1 billion. The change was approved today by the Mixed Budget Committee.

According to the commission's rapporteur, senator Oriovisto Guimarães (Podemos-PR), the budget is close to balance, the government now has only a deficit of R$ 2 billion to achieve a balance between revenue and expenditure. With the measure, the expectation is that the budget is R$ 2,028 tri. The figure does not consider the privatizations that are scheduled to take place in early 2022, such as Eletrobras - which should raise around R$ 23 billion -, and excess pre-salt oil bids, which can generate up to R$ 5 billion for the Union.

"This will be a historic achievement, interrupting the sequence of primary deficits observed over the last eight years," said the senator.

Changes in Gross Domestic Product (GDP) forecasts, Selic fluctuations - the basic interest rate and inflation were the main drivers of the new figure, explained the senator in a report. Guimarães also informed that, despite the estimate being encouraging, the drop in the population's income and unemployment are still worrying.

According to projections prepared by the Ministry of Economy, GDP should grow 5.1% in 2021 and 2.1% in 2022. For Selic, specialists in the sector point out that the basic interest rate should close at 9.15% in the year of 2021, and should be up to 2% during the course of 2022.

Text translated using artificial intelligence.