Negative balance increases 320.4% compared to the same period in 2025; state-owned companies had a deficit of R$ 1.3 billion
Federal state-owned companies recorded a deficit of R$4.2 billion in the first two months of 2026. The deficit was a record for the period in the historical series, which starts in 2002. The negative balance increased by 320.4% compared to the same period last year.
The Central Bank released the “Tax Statistics” report this Tuesday (March 31, 2026). Here is it (PDF – 347 kB). The survey excludes state-owned financial institutions – such as (Banco do Brasil), aeo (National Bank for Economic and Social Development) – and also .
State-owned companies also recorded a negative record. The deficit was R$1.3 billion in the 1st two months. It had recorded a surplus of R$681 million in the same period last year.
Responsible for coordinating the management of state-owned companies, the MGI (Ministry of Management and Innovation in Public Services) to measure the financial health of companies. For the government’s technical team (PT), the BC’s financial data does not inform the real financial health of companies because it does not detail accounting numbers, such as revenues, costs, assets, liabilities and net profit.
The government said state-owned companies have registered. Public banks alone (Caixa, BB and BNDES) and Petrobras recorded a profit of R$137.2 billion. The remaining sum totaled losses.
When also disregarding , federal state-owned companies had a net profit of R$5.2 billion.
The BC indicator is relevant for measuring the deficit of state-owned companies from the perspective of the impact on public accounts and, therefore, on the country’s fiscal policy. When a state-owned company needs financing, the National Treasury may have to cover the gap with more debt or resources raised through taxes.
One of the most emblematic cases is that of Correios. The state-owned company announced, at the end of 2025, a recovery plan with a gain of R$4.2 billion in spending cuts with 15,000 employees and the closure of 1,000 service units, and another R$3.2 billion from increased revenue.
Correios recorded the accumulated result from January to September 2025.
