With the Correios crisis, the government sees a deficit of R$9.208 billion in state-owned companies in 2025
Amid the severe crisis that hit Correios, the government increased the projected deficit in state-owned companies this year, from R$5.504 billion to R$9.208 billion. The information is contained in the Report and Assessment of Primary Revenues and Expenses for the 5th Bimester, released this Friday by the Ministries of Finance and Planning.
“The increase in the deficit projection by R$3.704 billion is mainly due to the impact of the reprogramming of Correios”, says the text. The company’s deficit estimate specifically more than doubled, going from R$2.380 billion in the previous report to R$5.808 billion now. If the projection is confirmed, it will be the largest deficit among all state-owned companies.
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The forecast for the total deficit of state-owned companies already considers the deduction of R$4.248 billion in expenses related to the Growth Acceleration Program (PAC), authorized by the Budget Guidelines Law (LDO) of 2025.
With the expected deficit in state-owned companies, the estimated primary deficit for the Global Expenditure Program (PDG) exceeded the limit foreseen in the LDO: a primary deficit of R$6.215 billion, already including a deduction of R$5.0 billion in PAC spending. Thus, the government had to compensate the PDG’s fiscal target with the fiscal and security budget.
The compensation of R$2.993 billion took the primary deficit projection to R$34.259 billion, already below the lower tolerance limit, which accepts a deficit of up to R$30.970 billion. The core of the fiscal goal is zero deficit. As a result, the Executive was forced to announce a contingency of R$3.3 billion in expenses.
