The federal government has a deficit of R$ 13 billion in 2025 and is meeting its target of up to 0,25% of GDP.

Reuters - The government of President Luiz Inácio Lula da Silva (PT) reported this Thursday (29) that it has achieved a fiscal result in 2025 compatible with the zero deficit target set for the year, after excluding R$48,7 billion in expenses that will not be accounted for in the calculation of the result.

Data from the National Treasury shows that the central government ended the year with a deficit of R$13,008 billion, or 0,1% of the Gross Domestic Product (GDP), a balance that excludes expenses related to court-ordered payments, reimbursements to retirees, and some expenses related to health, education, and defense.

Thus, the result after deductions meets the target of a zero primary deficit, which has a tolerance of 0,25 percentage points of GDP.

The total deficit for the year, however, is R$61,691 billion, equivalent to 0,48% of GDP. This is the amount that effectively negatively impacts the country's public debt.

Two weeks ago, Finance Minister Fernando Haddad anticipated the now-official result.

The total deficit of the central government, composed of the National Treasury, the Central Bank, and Social Security, was larger last year than that observed in 2024, when the negative balance was R$42,924 billion.

The figures refer to the difference between government revenues and expenditures, excluding spending on public debt interest.

Total expenses for 2025 saw a real increase of 3,4%, reaching R$2,394 trillion.

Meanwhile, the government's net revenue, which excludes transfers to states and municipalities, rose 2,8% in real terms compared to 2024, to R$2,333 trillion.

The gains were driven by an additional R$43,6 billion in Income Tax (+5,2%), R$15,4 billion in Tax on Financial Operations (+21,3%), recently increased by the government, and R$9,0 billion in Import Tax (+10,9%).

Conversely, there was a 57,9% reduction in earnings from government concessions and permits (-R$10,0 billion), in addition to a 34,3% drop in dividend and participation revenues (-R$26,3 billion). In the case of revenue from the exploitation of natural resources, there was an increase of 11,7% (+R$14,8 billion).

The Treasury also reported that the amount of funds held back – resources that had been released to ministries but ended the year in cash – totaled R$8 billion, compared to R$12,5 billion observed at the end of 2024.

In relation to the month of December, the central government recorded a primary surplus of R$22,107 billion, a smaller balance than the R$24,106 billion surplus in December 2024.