FX.co ★ Brazil Swings to Budget Surplus in December After Deep November Deficit

Brazil’s public finances posted a sharp turnaround in December 2025, with the budget balance shifting from a significant deficit to a solid surplus, according to data updated on 30 January 2026.

After recording a deficit of -14.400 billion in November 2025, the indicator moved into positive territory in December, reaching 6.251 billion. The reversal suggests a notable month-on-month improvement in fiscal performance at the end of the year.

While the underlying drivers of the shift were not detailed, the move from a large deficit to a surplus within a single month will likely draw close attention from investors and analysts tracking Brazil’s fiscal trajectory going into 2026.