President Luiz Inácio Lula da Silva's government presented on Monday the 2027 budget bill (PLOA). The proposal projects an "effective" surplus of R$ 18.6 billion next year, which, if confirmed, will be the first positive result since 2022. The projection represents an effective surplus of accounts because it considers all expenses, even those discounted for the purpose of calculating the target, such as part of the precatórios (judicial debts).
Next year, the fiscal framework targets a surplus of 0.5% of Gross Domestic Product (GDP), equivalent to R$ 73.2 billion. The fiscal rule has a tolerance margin, meaning it is considered met if the result is a surplus between 0.25% and 0.75% of GDP. When all expenses are taken into account, the projected result falls outside the target.
With the deductions incorporated into the fiscal framework, that is, excluding a range of expenses totaling R$ 64.7 billion, the projected surplus for next year rises to R$ 83.4 billion. The Budget also does not provide for an adjustment to the Bolsa Família program.
