*Brazil’s central bank (BCB) has released its latest fiscal statistics, which showed that the public sector registered a primary surplus of R$104.1bn (US$18bn) in January, up from the monthly surpluses of R$15.7bn in December and R$102.1bn in January 2024. The accumulated primary deficit for the public sector in the 12 months until January 2025 was R$45.6bn (0.38% of GDP), down from the annual deficit of R$47.6bn (0.4% of GDP) registered for 2024. The public sector’s latest nominal result, which includes the primary result and debt interest payments, showed a monthly surplus of R$63.7bn in January this year, in contrast to December, when a monthly deficit of R$80.4bn was registered. The accumulated nominal deficit in the 12 months until January 2025 was R$956.5bn (8.05% of GDP), down from the annual nominal deficit R$998.0bn (8.45% of GDP) registered for 2024.
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