FX.co ★ Brazil Budget Deficit Narrows in April

In April 2025, Brazil's nominal budget deficit was reduced to BRL 55.5 billion, a decrease from BRL 69.6 billion in the same month of the previous year, exceeding market forecasts of a BRL 58.1 billion deficit. This also represented the best nominal outcome in three months. Over the past 12 months, the nominal deficit amounted to BRL 934.4 billion, which is 7.76% of GDP, a reduction from March's BRL 948.5 billion or 7.92%. The public sector reported a primary surplus of BRL 14.1 billion in April, compared to BRL 6.7 billion the previous year. The central government achieved a surplus of BRL 16.2 billion, whereas regional authorities and state-owned enterprises experienced deficits of BRL 659 million and BRL 1.4 billion, respectively. Gross public debt increased to 76.2% of GDP, equivalent to BRL 9.2 trillion, reflecting a 0.3 percentage point rise from the prior month.