Brazil’s nominal budget deficit narrowed to BRL 108.1 billion in June 2025 from BRL 135.7 billion a year earlier. Over the twelve months through June, the nominal deficit stood at BRL 894.4 billion (7.30% of GDP), slightly below May’s BRL 922.0 billion (7.58% of GDP). The consolidated public sector posted a primary deficit of BRL 47.1 billion in June, up from BRL 40.9 billion in the same month of 2024, with the central government, regional governments, and state-owned companies contributing BRL 43.5 billion, BRL 954 million, and BRL 2.6 billion, respectively. On a 12-month basis, the public sector’s primary surplus narrowed to BRL 17.9 billion (0.15% of GDP), down from BRL 24.1 billion (0.20%) in May. Meanwhile, Brazil’s gross general government debt rose by 0.5 percentage points to 76.6% of GDP, reaching BRL 9.4 trillion in June 2025.