FX.co ★ Brazil’s Budget Gap Widens in December, Deepening Fiscal Deficit to BRL 115.5B

Brazil’s public finances deteriorated further at the end of 2025, with the budget balance deficit expanding in December. The indicator reached -115.502 billion reais in December 2025, compared with a deficit of -101.600 billion reais recorded in November 2025.

The data, updated on 30 January 2026, show a marked month-on-month worsening of the fiscal position, signaling mounting pressures on Brazil’s budget at year-end. While the figures confirm a deepening shortfall, no additional details on the drivers of the deterioration—such as revenue performance or spending dynamics—were provided in the latest release.