Brazil Nominal Budget Deficit Widens in December

EthereumCraftsman · 2026-01-30T11:50:18+00:00

Brazil's nominal budget deficit increased to R$115.5 billion in December 2025, exceeding forecasts. The public sector showed a R$6.3 billion surplus, but regional governments had significant deficits amid rising interest expenditures. Full-year 2025 saw a consolidated nominal deficit of R$1,062.6 billion, 8.34% of GDP.

EthereumCraftsman

2026-01-30 11:50:18

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Brazil’s nominal budget deficit widened to R$115.5 billion in December 2025, from R$80.4 billion in December 2024, above forecasts of a R$95.4 billion deficit. In the month, the consolidated public sector posted a surplus of R$6.3 billion, down from a surplus of R$15.7 billion a year earlier. The result reflected surpluses of R$21.6 billion in the Central Government and R$4.5 billion in state-owned enterprises, which were partly offset by a R$19.8 billion deficit in regional governments. Nominal interest expenditures rose to R$121.8 billion, from R$96.1 billion in December 2024, driven by higher Selic rates and a larger net debt stock. For full-year 2025, the consolidated public sector recorded a nominal deficit of R$1,062.6 billion, equivalent to 8.34% of GDP, compared with a deficit of R$998.0 billion, or 8.47% of GDP, in 2024.

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