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Petrobras and Eletrobras are not being taken into consideration in this estimate. Caixa Econômica Federal, Banco do Brasil and other public banks are also excluded from this calculation.
O deficit of Brazilian state-owned companies reached a new record in September 2024, totaling an impressive $ 7,4 billion No. year to date, according to data released by central bank on November 11, 2024 (Poder360).
This value represents the worst result recorded for the periodAccording to historic Serie = maintained by monetary authority since 2002. The data reflect a scenario of great challenge for the finances of state-owned companies, who, in many cases, face difficulties in balancing income and expenses.
This deficit includes the accounts of federal, state and municipal state-owned companies, although the groups Petrobras e Eletrobras are excluded from this calculation. Furthermore, public banks as CEF and the Bank of Brazil are also not part of this analysis. In total, the deficit balance is divided between the federal state-owned companies, with R$ 4,18 billion, and the state-owned companies, which recorded R$3,26 billion, showing that the impact occurs at both the federal and regional levels.
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The deficit situation raises questions about the sustainability of these companies’ operations and the financing and investment model used. Amid global economic challenges and increasing pressure on fiscal control, these figures highlight a worrying picture for the country’s public accounts and financial balance.
Main Factors for the Deficit in State-Owned Companies
O central bank pointed out that a deficit of this magnitude indicates a decrease in the assets of state-owned companies, often caused by investments aimed at expanding operations or improving the services provided. According to Fernando rocha, head of the institution's Statistics department, a practical example can occur when a state-owned sanitation company decides to expand its coverage area to serve more regions. Initially, these investments may lead to deficits, but in the long term, they can bring returns in the form of increased revenue, such as the payment of tariffs.
O Ministry of Public Management and Innovation also commented on the deficit situation, highlighting that a large part of the primary deficit of federal state-owned companies in 2024 corresponds to investments in infrastructure. According to the ministry, the primary outcome considers only the revenues and expenses of the current year, without taking into account the accumulated resources from previous years or financing revenues. Therefore, the primary result alone may not reflect the financial health of these companies.
The ministry also noted that many state-owned companies record primary deficits even when profits increase, especially in expansion phases and business modernization. These improvements can range from the adoption of new technologies to the expansion of service networks, as occurs in transportation or basic sanitation companies. Therefore, the deficit is, in part, a reflection of investments in growth.
Gross Debt and Consolidated Results
In addition to the deficit, the central bank reported that gross debt of the Brazilian government ended September 2024 in 78,3% of GDP, a small drop from the previous month.
This number includes values of the federal government, INSS, state and municipal governments and is one of the indicators most observed by investors to assess the country's fiscal sustainability.
The reduction, although discreet, marks a pause in the upward trajectory that began in June 2023, when public finances began to face greater pressure due to economic adjustments (Valor Econômico).
In parallel, the net debt – which discounts government assets – reached 62,4% of TAX ID No in September 2024, recording the highest level since 2002.
This increase was driven largely by the exchange rate appreciation, which directly impacts the overall balance of government accounts. With the growth of debts and the accumulation of deficits, the economic situation of state-owned companies and the public sector as a whole has been the target of increasing attention.
O primary deficit of the consolidated public sector, which covers the central government, regional governments and state-owned companies, was from $ 7,3 billion in September. This figure represents a significant improvement over the same period last year, when the deficit had reached $ 18,1 billion. The recovery occurred despite a deficit of R$4 billion in the central government, which was offset by the expansion of federal revenues over the period.
Expectations for the End of 2024 and Fiscal Target
For 2024, the president's government Luiz Inácio Lula da Silva set a goal of deficit of BRL 28,8 billion, as the maximum limit within the tolerance margin for fiscal adjustment. The government's central objective is to balance public accounts to avoid further accumulation of excessive debt. This fiscal commitment is aligned with the effort to control public debt, a crucial factor for investor confidence and economic stability.
Currently, the Union maintains direct control over 44 federal state-owned companies and, indirectly, on others 79 subsidiaries. This large number of government-controlled companies reflects the significant presence of the state sector in the Brazilian economy and highlights the importance of effective management of public accounts.
In a global scenario of uncertainty and economic pressures, the strategy of reducing the deficit, controlling the gross debt and increase efficiency in state-owned companies is essential for long-term economic stability.
If these fiscal adjustment measures are well implemented, state-owned companies will be able to contribute more significantly to the country's growth, helping to avoid additional financial pressures on the public budget.
SOURCE OF THIS ARTICLE; https://clickpetroleoegas.com.br/wp-content/uploads/2024/11/Banco-Central-revela-prejuizo-recorde-de-estatais-brasileiras-a-niveis-historicos-jamais-vistos-desde-2002.pdf
Where is the list of state-owned companies with their respective reasons??? At least the federal ones…
When talking about what “investors” are observing, it would be good to mention the accounting maneuvers of large retailers, such as AMERICANAS, to present “profit” and make a comparison of a scenario of influence on the investor’s decision… A post like this is not even “articles”…
Look at the press? What do they say? But the truth is that the foreign press is seeing the results, true, not dubious comments, like the Brazilian press comments, be careful with this, bad information brings serious risks, be careful.
**** blindfolded?
The press outside demoralizes Brazil, here it passes cloth for money,
I don't believe that you are being honest when you make this comment. Are you?
In the case of the Post Office, for example, the previous government effectively worked to sell the Company. Investments, employees, and working conditions were neglected.
We were left behind for 4 years!!
Don't talk nonsense, man. Correios made a profit under Bolsonaro's government. In fact, ALL state-owned companies made a profit under Bolsonaro's government. And your Correios is a huge joke. A state-owned company that holds a monopoly on deliveries and manages to be extremely inefficient compared to private companies.
Look, if you have a car and don't pay to keep it running, you'll have your money saved but you won't be able to use your car. That's what Bolsonaro did with the Post Office.
Keep the gap?
Our state-owned companies, including the Post Office, make a profit, and it's not a small one, which is why these vultures are on top of them, wanting to sell them. Have you ever seen someone buy something that's no good? The Americans are dying to get their hands on our Post Office.
Since **** took over they have made losses!
What feeds corruption in the public sector are these state-owned companies in the hands of the government. For example, telephony was when the government administered it. Telephones were for the rich. Today, most people have a cell phone to use whenever they want. Only those in the public sector are sucking up to the government.
First, you don't give a single example of this bizarre fake news that ALL state-owned companies made a profit under the **** government. And if they did make a profit (including during the pandemic... lol), why were there privatization initiatives? The Post Office has always been a politically appointed job hanger in its top management, nothing to do with its employees who work hard. It is the classic example of a continually mismanaged and scrapped state-owned company, eternally in the "privatizable" ranking. Amazon, Mercado Livre, Magazine Luiza are crazy to take over the structure of the Post Office, turning their shareholders from millionaires into billionaires, in other words, the cancers of humanity.
Did you see the hole?
This site is not the only one mentioning the alleged breach. Have you done a thorough research? Or do you think it's better to just cover it up? Typical of politician idolaters (I'm referring to both sides who live like Pitbulls in a dogfight).
The post office does not have a monopoly on deliveries. It has already started making mistakes there.
What about Petrobras?
Bah, completely brainwashed mind, legitimate comment from someone who ate pasture in the fenced area for 4 years, go get informed and come back with the numbers. No state-owned company made a profit during the time of bozoAsn0 without having federal money injected and look what Paulo jegues did with Petrobrás while the terrorist from the barracks filled his pockets with jewels!!!! A politician with a pocket name could only end up like this, it's no wonder he invented that very small $200 note and is famous for the real estate paid in CASH!!!!!
Which jewel have you not delivered yet? Have you paid your taxes today? More than 6 dollars!
He spoke **** ****!
And he said “M” in that, his mouth still stinks of “BST”…
Even so, the Post Office made a profit, just look at the documents.
As soon as **** took over the state-owned companies, Petrobras returned to making losses!
Dollar over 6, record debt!
The issue with the Post Office began with the Postallis (employees' pension fund), which was scrapped, stolen, and mismanaged by PT unionists who took control during the Lula/Dilma governments, hence the deficit! And the employees were forced to pay for this deficit with part of their salaries! Under the Bolsonaro government, things were reversed with profits at the end of the administration, that's a fact! Trying to hide the problem with a sieve is typical of alienated people!
The solution would be to privatize the post office. Today, the service would be top quality and without corruption.
PROFIT!!! doesn't matter.
The important thing is love
Lack of control over public money. Post office increases beyond inflation. Bonuses for not going on strike, not appealing against judicial termination. In other words, it doesn't matter, the directors and union members want to spend.
Everything we say we must prove or provide sources. The comment above is full of empty words. They are: lack of control, out of inflation, bonuses, strikes, judicial termination, directors, union members. Baseless words, that say nothing.
By August 2024 alone, the postal service's losses had already reached 1,3 billion, 50% of the losses of state-owned companies. And just for the record, the Post Office has not made a profit since 2022.
Get informed!!!
This would be a good time for you to show the sources that refute the comment, otherwise you've swapped six for half a dozen.
The biased **** face of the article knows no bounds. They exclude the golden gooses that produce exorbitant profits and distribute billions in dividends every year and do not mention which companies are in deficit. They could mention at least ten to serve as a sample. The desire for Brazil to fail of a large part of the press that prostituted itself to the extreme Right no longer even bothers to disguise itself as journalism.
Guess why. The bloodsuckers are back.
Pay for ****'s luxuries
This “article” is CLICKBAIT, and the worst part is the cattle complaining, lol. Well, Bozó would raise the price of fuel every Tuesday and send the profit abroad in exchange for jewelry!!!!!!
And there you have it, you've already eaten your picanha
Accept it and it hurts less. Only those who are blind or don't have taxes to pay can't see it.
Don't worry, your pumpkin 🎃 is coming
Can you tell me the prices of fuel and food when “****” came out, on 31/12/2022? Or are you just another pirate parrot of the **** government?
Donkey! **** d donkey! Have you paid your taxes today? **** d donkey! Dollar over 0! Gasoline 0 without a pandemic! The state-owned companies were not from Brazil, how are they going to make a profit abroad? Those who made a profit abroad are **** to Venezuela, Cuba, Mozambique with trillions in loans for works there that they will never pay us back! What jewels have **** not delivered until today or the 0 containers taken by him?
Exactly. They don't even try to hide it anymore. Which state-owned companies are in deficit? The privatization frenzy (of incompetence and leeches) financing “journalistic” articles.
Remember Petrobras, Eletrobras, the post office, which almost went bankrupt?
Exactly, I share the same opinion. Absolutely right, João!
That **** guy, he works hard, but he doesn't stop! Left-wing trash.
Pay for ****'s luxuries