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Brazil Treasury Aims 19% GDP Spending, Deficit Misses Target

6/30/2026

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Summary

Story summary

Treasury Secretary Daniel Leal said total spending should drop to around 19% of GDP by year-end.
Treasury data showed spending at 19.6% of GDP in the 12 months through May and a 26.3% rise in the primary deficit to 53.257 billion reais in May.
The 12-month primary deficit reached 142.3 billion reais (1.06% of GDP), missing the target of a 0.25% surplus with a ±0.25-point tolerance band.

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Story summary

Treasury Secretary Daniel Leal said total spending should drop to around 19% of GDP by year-end.
Treasury data showed spending at 19.6% of GDP in the 12 months through May and a 26.3% rise in the primary deficit to 53.257 billion reais in May.
The 12-month primary deficit reached 142.3 billion reais (1.06% of GDP), missing the target of a 0.25% surplus with a ±0.25-point tolerance band.