Brazil Nominal Budget Deficit Widens in August

Brazil’s nominal budget deficit widened to R$91.5 billion in August 2025, slightly above the R$90.4 billion shortfall a year earlier. The consolidated public sector posted a primary deficit of R$17.3 billion, compared with R$21.4 billion in August 2024. The Central Government, regional governments, and state-owned companies recorded respective deficits of R$15.9 billion, R$1.3 billion, and R$6 million. Over 12 months, the consolidated primary deficit narrowed to R$23.1 billion (0.19% of GDP) from R$27.3 billion (0.22% of GDP) in July. Meanwhile, the nominal deficit stood at R$969.6 billion (7.81% of GDP), little changed from R$968.5 billion (7.85% of GDP) in the prior month.