According to the Finance Secretary, this latest revision was motivated by economic measures adopted to face the coronavirus crisis. Previously, the deficit forecast in the Budget was R$1.4T 124 billion.
Waldery Rodrigues, special secretary of Finance at the Ministry of Economy, announced this Thursday (day 2) that the federal government has considerably increased the forecast for a deficit in public accounts to R$419.2 billion in 2020.
The secretary delivered the information at a press conference at the Planalto Palace alongside other members of the economic team. The budget for the year in question, sanctioned in January by President Jair Bolsonaro, predicted a relatively smaller deficit: R$124 billion.
According to Waldery Rodrigues, the increase in the deficit forecast was driven by the increase in spending related to measures to combat the spread of the coronavirus crisis. According to the secretary, these measures combined total R$224.6 billion.
According to his statements, if the deficit of R$419.2 billion is confirmed, it will be the largest in the historical series. He also said that the number is an estimate and may be revised later.
Economic measures
According to the secretary, among the measures incorporated by the government, the one that will cause the greatest fiscal impact will be the R$600 aid for informal workers. So far, the measure has an estimated impact of R$98.2 billion.
The text has already been approved by the National Congress, and current President Jair Bolsonaro has also announced that he has duly signed the text. However, the sanction has not yet been published in the “Diário Oficial da União”.
In addition, the second measure with the greatest financial impact, according to the government, will be the job retention program that provides for the reduction of wages and working hours. The measure has an estimated impact of R$51.2 billion. Learn more.
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