FX.co ★ Brazil Swings to Deep Budget Deficit in May After April Surplus

Brazil’s public finances deteriorated sharply in May 2026, with the government’s budget balance plunging from a surplus in April to a substantial deficit, according to data updated on 30 June 2026.

In April 2026, Brazil recorded a budget surplus of 24.624 billion, marking a positive fiscal position for that month. However, the trend reversed in May 2026, when the budget indicator fell to -56.131 billion, signaling a significant deficit and a marked month-on-month deterioration in the country’s fiscal stance.

The abrupt shift from surplus to deficit highlights increased budgetary pressures within a single month and underscores the volatility of Brazil’s public accounts during the period. Further details on the drivers behind the reversal were not disclosed in the latest data release.