The government's accounts recorded a primary deficit of R$48.2 billion in June, the National Treasury reported this Thursday (30). ? The primary deficit occurs when revenues from taxes and duties fall below government expenditures. If revenues exceed expenses, the result is a primary surplus. These values ??do not include interest on public debt. ??There was a worsening compared to the same month last year, when a negative result of R$46.2 billion was recorded (value adjusted for inflation). ??This was also the worst result for the months of June since 2023, when a primary deficit of R$51.6 billion was recorded (with the correction). Revenues According to the government, expenses had a real increase (above inflation) of 9% in June, to R$243.3 billion. The main increases were: Executive Branch Expenses Subject to Financial Programming (+R$ 10.1 billion); Extraordinary Credits (+R$2.8 billion); Social Security Benefits (+R$2.1 billion); Bonus and Unemployment Insurance (+R$ 1.7 billion); Personnel and Social Charges (+R$ 1.3 billion). Net revenues registered a real increase of 10.3% in May this year, to R$195.2 billion. The good performance of revenue, in turn, is related to the growth of the Brazilian economy and also to the tax increases announced in recent years by the government of President Luiz Inácio Lula da Silva (PT), and also to revenue related to taxation and the rise in oil prices. Partial of the year In the first six months of this year, according to official data, government accounts recorded a primary deficit of R$92.2 billion, an increase of 717%. This represents a worsening compared to the same period last year, when a negative balance of R$11.3 billion was recorded. The deterioration in the government's accounts in this part of the year is mainly related to the anticipation in the payment schedule of court orders (amounts referring to court sentences) made in March, which increased the volume of expenses this year. ? In the first six months of 2026, there was a real increase of 5.6% in net revenue, after constitutional transfers to states and municipalities, totaling R$ 1.26 trillion (without correction). ? At the same time, total government expenses totaled R$1.35 trillion between January and June this year, with a real increase of 12.3% in the period (nominal values). Fiscal target in 2026 For this year, the target is for government accounts to have a positive balance of 0.25% of the Gross Domestic Product (GDP), around R$34.3 billion. According to the fiscal framework, approved in 2023, there is a tolerance interval of 0.25 percentage points in relation to the central target. In other words: the target will be considered formally met if the government has a zero balance, or if it reaches a surplus of R$68.6 billion. The text, however, allows the government to remove R$63.5 billion in expenses from this calculation. And use these resources to pay, for example, court orders (expenses on court sentences). With the band around the fiscal target and legal rebates, the government's official forecast is that its accounts will have a deficit of almost R$52 billion this year. If the numbers are confirmed, the government's accounts should remain negative throughout President Luiz Inácio Lula da Silva's (PT) third term.