Central government accounts, which encompasses National Treasury, Central Bank and Social Security, registered a surplus of R $ 17.8 billion in April 2025, the Treasury said on Thursday (29).
The result of the month was above the median of market expectations in the Ministry of Finance’s prism survey, which pointed to a surplus of $ 12.2 billion.
Last year, in the same month, a surplus of $ 11.6 billion was recorded.
The month’s performance is the result of a 5.1% real increase in net revenue and a real increase of 2.5% in total expenses compared to April 2024.
According to the Treasury, the increase in revenues is mainly due to the performance of revenues not administered by the IRS, which presented a positive variation of 18.2% (+R $ 5.2 billion).
The exploitation of natural resources registered a real increase of 18.1%, equivalent to R $ 2.9 billion, favored by growth in oil production, devaluation of the real and the pre-salt related payments.
Among the expenses, growth was pulled for social security benefits (R $ 2 billion or 2.4%) and other mandatory expenses (R $ 1.8 billion or 6.3%).
In accumulated of the year, the result of the central government reached a primary surplus of R $ 72.4 billion, against a surplus of R $ 31.8 billion in the same period of 2024.
The target of primary result for 2025 is zero deficit, with tolerance of 0.25 percentage point of Gross Domestic Product (GDP), about R $ 30 billion.
