Brazil's July fiscal deficit expanded to 175.6 billion reais.

In July 2025, Brazil's nominal budget deficit expanded to 175.6 billion reais. The primary deficit of the public sector was 66.6 billion reais. The central government had a deficit of 56.4 billion reais, local governments had a deficit of 8.1 billion reais, and state-owned enterprises had a deficit of 2.1 billion reais. Within the 12 months ending in July, the nominal deficit reached 968.5 billion reais, worsening from 894.4 billion reais in June. The primary balance for the same period turned into a deficit of 27.3 billion reais, compared to a surplus of 17.9 billion reais before. The government's total debt rose to 77.6% of GDP, an increase of 0.9 percentage points from June.