Amendment to the Budget Guidelines Law Removes 10 Billion from State-Owned Enterprises (R$)

Budgetary Prevention This is a crucial topic in public administration, especially during times of fiscal crisis.

In this article, we will explore the recent change in the 2026 fiscal target, which removes R$ 10 billion from state-owned companies, in response to the government's concern about the financial impact of the situation at the Post Office.

The measure seeks to avoid distortions in the budget due to financial contributions that could worsen the already significant deficit of the public company.

Furthermore, we will analyze the challenging scenario faced by the Postal Service, which is accumulating significant losses and has had a loan request denied by the National Treasury.

Changes to the 2026 Fiscal Target for State-Owned Enterprises

The recent change in the 2026 fiscal target, which removes R$ 10 billion from state-owned companies, reflects the economic team's concern about the country's financial health.

This decision was primarily motivated by the serious situation of the Post Office, which accumulated an operational loss of R$ 6 billion up to September.

This measure aims to prevent the inclusion of these values from distorting next year's fiscal results, promoting more cautious management of public resources.

Impact of the Postal Service Situation

O operational deficit Postal Serviceaccumulating R$ 6 billion Despite losses through September, the country intensified its fiscal warnings.

This deficit prompted changes to the 2026 fiscal target, incorporating preventative strategies to avoid budgetary distortions next year.

A loan request of R$ 20 billion The loan from the Post Office was denied by the National Treasury due to extremely high interest rates.

The 2026 target has already been adjusted. to remove R$ 10 billion of state-owned companies.

“It is imperative to protect the Treasury against growing liabilities.“, said an advisor.

This strategy seeks to safeguard the economy by increasing the importance of government decisions regarding the current crisis.

Preventive Measure in the Budget

Prevention In the 2026 budget, it is crucial to ensure that contributions to state-owned companies do not compromise fiscal transparency.

By excluding R$ 10 billion from the fiscal target, the rapporteur of PLDO of 2026 creates a safeguard that prevents distortion in the fiscal result.

This occurs amidst the financial challenges faced by companies like the Post Office, which have accumulated losses of R$ 6 billion.

Thus, the measure ensures that the economic scenario remains stable, even in the face of potential future investment needs.

National Treasury's rejection of the Postal Service loan.

O National Treasuryin a recent decision, The loan request was rejected. from the Post Office, which was seeking a line of credit in the significant amount of R$ 20 billion.

This refusal occurred due to excessive interest rate 136% of the CDI, viewed by the Treasury as beyond acceptable.

A concern about the financial impact These fees led to the decision, economically impacting the Post Office, which is already facing significant operational losses.

This scenario highlights the crucial need to rethink financial strategies at this state-owned company.

Political and Economic Context of the Decision

In the current scenario, the 2026 fiscal target is undergoing significant adjustments, resulting from the alignment between the Executive and Legislative branches.

The concerns arise mainly from the situation of the postal service, which has accumulated substantial losses up to September, totaling... R$ 6 billion Detailed data on the PLDO adjustment.

To mitigate these impacts, the rapporteur of the 2026 Budget Guidelines Law (PLDO) chose to exclude R$ 10 billion of the fiscal targets of state-owned companies, a strategic move for to preserve public finances Despite the adjustment, the balance between the Executive and Legislative branches is crucial..

This decision is also driven by the rejection of a loan application from R$ 20 billionwhich the Post Office intended to capture from the National Treasury, highlighting the government's strict criteria regarding financial conditions.

• Pressure for fiscal credibility
• State-owned companies' financial hole
• Negotiations in Congress

This coordination aims to guarantee robust and planned budget management for 2026, ensuring that the target of a 0.25% GDP surplus is achievable, even in the face of current economic challenges.

In shortThe change in the fiscal target reflects a preventative budgetary strategy in the face of the difficulties faced by the Postal Service, highlighting the need for responsible and attentive management of public finances to avoid larger crises in the future.