FX.co ★ Brazil Budget Deficit Above Expectations

In February 2025, Brazil reported a nominal budget deficit of R$97.2 billion, marking a decline from the R$113.8 billion deficit recorded in the same month the previous year and closely aligning with the forecasted R$91.8 billion. This represents the government's first budget shortfall of the year. The debt-to-GDP ratio rose to 76.2%, up from 75.7% in January. The fiscal figures included a surplus of R$9.244 billion for regional governments and R$299 million for state-owned enterprises. The central government posted a primary deficit of R$28.517 billion in February, culminating in an accumulated R$14.194 billion over the past 12 months, which is equivalent to 0.12% of the GDP.