Central government posts R$ 4.8 billion primary surplus…

In brief

The central government posted a R$ 4.8 billion surplus in September.

Year to date, the deficit is about R$ 90 billion.

Verified fact · material
The central government posted a primary surplus of about R$ 4.8 billion in September 2026, according to the National Treasury.
September.
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Verified fact · material
From January to September, the accumulated result is a deficit of about R$ 90 billion.
Year to date.
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Verified fact
According to the Treasury, September 2025 had a R$ 14.4 billion deficit.
Comparison.
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Verified fact
According to the Treasury, the Prisma Fiscal median expected a R$ 7.5 billion September deficit.
Expectation.
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Transmission to assets

September surplus beat expectations, but the year remains in deficit.

Juros futurosuncertain

Better monthly result.

Annual deficit weighs.

What would change the view: Trend holds.

rates10% confidence

Direction is an explanatory hypothesis, not a forecast or recommendation.

Next signals

Limits of the reporting