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2025-10-31 19:37:11
[Brazil's Fiscal Deficit Meets Expectations, but Debt Pressure Remains High] ⑴ Brazil's primary budget deficit in September was 17.452 billion reais, perfectly in line with market expectations of 17.45 billion reais. ⑵ The overall budget deficit reached 102.185 billion reais, significantly higher than the market expectation of 86.074 billion reais. ⑶ In the 12 months ending in September, the primary budget deficit was equivalent to 0.27% of GDP, indicating that the fiscal situation still faces pressure. ⑷ The total public sector debt as a percentage of GDP remained high at 78.2%, highlighting the challenge of debt sustainability. ⑸ The net public sector debt as a percentage of GDP was 64.8%, lower than the total debt level but still within a high range. ⑹ The budget data reflects slow progress in Brazil's fiscal consolidation, and the debt burden has not yet shown significant improvement. ⑺ The market is focused on how the government will balance fiscal discipline with the need for economic growth, and the policy direction remains uncertain.
