Brazil’s central government recorded a primary surplus of R$10.783 billion in July, reversing a R$59.070 billion deficit in the same month of 2025, the Treasury said on Thursday.
The result aligned with the R$10.679 billion median estimate from economists polled by Reuters, indicating a close match between actual data and market expectations.
The central government’s fiscal accounts aggregate the Treasury, Central Bank and Social Security systems, providing a consolidated view of federal government finances. The July surplus follows a period of elevated fiscal pressure amid elevated public spending and weaker revenue collection in 2025.
