巴西2025年的初级赤字高达30.2B雷亚尔,原因是支出失控、债务和改革停滞不前。 Brazil’s 2025 primary deficit hits R$30.2B due to uncontrolled spending, debt, and stalled reforms.

尽管税收创下历史新高,但由于支出和债务成本上升,预计2025年巴西将出现302亿雷亚尔的初级赤字,巴西面临日益严重的财政不稳定。 Brazil faces growing fiscal instability despite record tax revenues, with a projected R$30.2 billion primary deficit in 2025 due to rising spending and debt costs. 联邦预算的90%以上被养老金和工资等强制性开支所消耗,几乎没有什么投资。 Over 90% of the federal budget is consumed by mandatory expenses like pensions and salaries, leaving little for investment. 一项针对Fintechs和税收抵免的增收提案失败,加上抵制增税,拖延了2026年预算。 A failed revenue-raising proposal targeting fintechs and tax credits, along with resistance to tax increases, has delayed the 2026 budget. 专家警告说,如果不改革强制性支出、加强经济增长以及一个独立的财政机构,巴西将面临更深的债务和不可持续的税收负担。 Experts warn that without reforms to mandatory spending, stronger economic growth, and an independent fiscal agency, Brazil risks deeper debt and unsustainable tax burdens.