Brazil Cuts 2026 Concession Revenue Forecast by R$700M; Dividend Outlook Slashed

Brazil's Planning Ministry revised down its 2026 federal revenue projection for concessions and permits by R$700 million to R$5.8 billion, and cut expected dividends/participations by R$3.9 billion to R$51.5 billion. The downward revisions signal weaker-than-expected asset sales and state-owned enterprise payouts, potentially widening the fiscal gap. This follows a pattern of repeated forecast cuts, raising concerns about Brazil's fiscal trajectory.