TCU analysis points out that the federal public debt closed 2022 at BRL 5.951 trillion, against an initial projection of BRL 6 trillion.| Photo: publicity/TCU

An analysis carried out by the Federal Court of Accounts (TCU) pointed out that the federal public debt grew less than projected for 2022 and has a moderate risk for the period from 2023 to 2028. The accounts were analyzed in the session on the 17th and disclosed in this Thursday (25).

The TCU states that the stock of federal public debt calculated for the end of 2022 should grow and reach a level between R$ 6 trillion and R$ 6.4 trillion. However, it increased by only BRL 337.7 billion, resulting in a total of BRL 5.951 trillion, “thus below the lower limit of this forecast range”, noted minister-rapporteur Jorge Oliveira (see full text).

Still in the decision, Oliveira states that the federal public debt/GDP ratio decreased from 63.1% to 60.5% between December 2021 and December 2022. “This was due, to a large extent, to the recovery of the Brazilian economy in 2022 and of the increase in primary revenue”, he added.

As a result, the TCU concluded that the debt sustainability risk can be considered moderate in 2023 and in the projection until 2028, in view of the strong domestic base of investors (90.6% of holders of National Treasury bonds), and the small proportion of debt in foreign currency, 3.1%.