Empresas estatais federais e o relacionamento financeiro com a União, entre 2010 e 2020

Resumo

In recurring fiscal deficits, it is normal to discuss how state-owned enterprises (SOEs) become routine. Brazil has more than a hundred of these companies. The Brazilian Government has 47 directly controlled subsidiaries - including Ceitec (in liquidation) - and 112 indirectly controlled subsidiaries. The latter, distributed as subsidiaries of Banco do Brasil, BNDES, Caixa Econômica Federal, Eletrobras and Petrobras. Of the direct SOEs, 19 depend on grants from the National Treasury to finance their personnel and general costing expenses. The other 28 direct SOEs are classified as not dependent on the resources of The Brazilian Government. However, non-dependents were also benefited, between 2010 and 2020, with transfers from their controller; however, for capital increase. SOEs can also be sources of revenue for the Federal Government, either through the remuneration of invested capital (dividends/interest on company capital) and in the case of federal banks, through interest payments and principal returns on Hybrid Instrument contracts (IHCD/IECP). These contracts were used to reinforce the capital of these banks. Therefore, it becomes relevant to study the financial weight of SOEs under the direct control of The Brazilian Government. The scientific research carried out answers the following question: how much would have been, between 2010 and 2020, the result of the financial relationship between The Brazilian Government and its state-owned enterprises under direct control (capital income with dividends/JCP, remunerations, and returns of IHCD/IECP minus current expenses with capital contributions and grants)? For this, data collection and organization work was necessary. This data was not available in a single location. Once the data was organized, a dashboard was created as a way to support new studies involving these SOEs. Among the main findings are: (i) Banco do Brasil, BNDES, Caixa Econômica Federal, Eletrobras, and Petrobras presented a positive result in the financial relationship with The Brazilian Government. The capital revenues generated by the controller exceeded expenses with capital contributions of approximately R$ 173.5 billion in the period 2010 – 2020; and (ii) the other federal SOEs presented a deficit financial relationship with The Brazilian Government, that is, around R$ 229.3 billion negatives, in the period. In the next sections, you will find the details of the research carried out.

Ficha do documento

Tipo

Outro

Ano

2021

Instituição

Ipea

Fonte

Repositório do Ipea

Idioma

Português

Acesso

Acesso aberto

Identificador

oai:repositorio.ipea.gov.br:11058/18984

Licença

Licença Padrão Ipea

Abrangência

Brasil; 2010 - 2020

Temas

Finanças Públicas

Palavras-chave

Empresas PúblicasFinanças Públicas. Bancos. Relações Monetárias InternacionaisSubsídiosDividendosGoverno federalDividends