Bolsonaro sanctions the 2022 Budget; see details

posted on 01/23/2022 21:15 / updated on 01/23/2022 21:15

  (credit: Evaristo Sá/AFP)


(credit: Evaristo Sá/AFP)

On the night of this Sunday (23/1), the Ministry of Economy brought more details about the Annual Budget Law (LOA) of 2022. Sanctioned by President Jair Bolsonaro (PL), this Friday (21), the total amount of expenditure public debt totals R$ 4.7 trillion, of which R$ 1.9 trillion refers to the refinancing of the public debt.

The forecast analyzed in the LOA is a deficit of R$ 79.3 billion in its primary result. The value is lower than the forecast of the budget piece, which totaled a value of R$ 170.5 billion as a target corresponding to the Fiscal Budget and the Union’s Social Security. This projection of the primary result present in the LOA-2022, lower than that forecasted target in the LDO-2022, it stems particularly from the increase in the estimate of primary revenues carried out by the National Congress.

According to the Ministry of Economy, the Budget is compatible with the limit for primary expenses, as established by the spending ceiling. The text includes sufficient funds to meet the minimum investments in public health actions and services (R$ 139.9 billion) and in the maintenance and development of education (R$ 62.8 billion). Also supported is the approval of the PECs (Proposal for a Constitutional Amendment) of the Precatórios, the expansion of Auxílio Brasil – a substitute for Bolsa Família. The new social assistance program has a budget forecast of R$ 89.1 billion in the Budget.

In addition, the Budget considers the new criterion for updating the individual limits of the spending ceiling established by Constitutional Amendment 113/2021. The forecast of the Union spending ceiling considered in the LOA-2022 is R$ 1.7 trillion, considering the projection of the Broad Consumer Price Index (IPCA) of 10.18%, according to the Brazilian Institute of Geography and Statistics ( IGBE).

The Ministry of Economy also informs that it was necessary to veto budgetary programs in order to adjust mandatory expenses related to personnel expenses and social charges. Therefore, it will be necessary to submit an additional credit bill with the use of the fiscal space resulting from the vetoes of the schedules, later on.

About Abhishek Pratap

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