Brazil’s national oil authority ANP on Wednesday (Oct. 7) raised BRL 3 billion in signing bonuses from the auction of 49 oil exploration blocks under the concession regime. The auction is part of the 6th cycle of the Permanent Concession Offer.

Investments totaling R$ 4.5 billion are projected for the first phase of the contracts alone - the exploration phase.

Notícias relacionadas:

• Brazil’s largest pre-salt auction awards 7 of 13 blocks.
• Auction to offer 23 pre-salt exploration blocks in Brazil.

The 49 blocks and three areas with marginal accumulations awarded are located in the Potiguar, Tacutu, Recôncavo, Parnaíba, Tucano Sul, Campos, and Ceará basins.

The BRL 1.5 billion in signing bonuses paid for the marginal areas in the Potiguar and Tucano Sul basins represented an average premium of 442 percent.

The concession contracts are scheduled to be signed by February 26, 2027.

Production-sharing offer

Also on Wednesday, ANP held the largest auction of oil and gas exploration and production blocks in the so-called Pre-Salt Polygon, as part of the 4th Cycle of the Permanent Production-Sharing Offer. The auction resulted in the award of seven of the 13 blocks offered, generating BRL 530 million in signature bonuses for the Brazilian government.

Under the production-sharing model - which applies specifically to pre-salt areas or those considered strategic by the government - the oil remains the property of the Brazilian state, and the winning bidder is the company that offers the largest share of surplus oil, that is, the production remaining after costs have been recovered. Under the concession model, ownership of the oil produced is transferred to the company that wins the auction, which is selected based on the highest signing bonus.

Brazil’s largest auction of oil and gas exploration and production blocks in the so-called Pre-Salt Polygon ended with seven of the 13 blocks awarded. The 4th Cycle of the Permanent Production-Sharing Offer was held on Wednesday morning (Oct. 7).

The auction, organized by Brazil’s national oil authority ANP at its headquarters in downtown Rio, brought in BRL 530 million in signing bonuses for the government. Had all blocks been awarded, the total would have reached BRL 1.24 billion.

Notícias relacionadas:

• Auction to offer 23 pre-salt exploration blocks in Brazil.

This was the pre-salt auction with the most blocks awarded. The previous one (3rd Cycle, in 2025) had five areas up for bid. With this result, the exploration area under the production-sharing regime expands by 58 percent to 39,200 km² – some 90 percent of the territory of the state of Rio de Janeiro (43,800 km²).

There were 19 qualified companies, but only six submitted bids, four of which were foreign. There was no competition – in other words, for all seven blocks awarded, there was only one bidder.

The biggest winners were the Brazilian companies Petrobras and Prio (formerly PetroRio), each with two blocks. Norway’s Equinor also secured two blocks, one of them in a consortium with Portugal’s Galp.

To explore the blocks – all located in the Santos and Campos basins off the southeastern coast – the oil companies committed to making minimum investments totaling approximately BRL 778.4 million.

Production-sharing model

Like the signature bonuses, the minimum investment requirements are set forth in the call for bids issued by the ANP, which is affiliated with the Ministry of Mines and Energy.

In addition to approval from the Ministry of Mines and Energy, the exploration areas put up for auction also received the green light from the Ministry of the Environment and Climate Change.

In a production-sharing model auction, the winning company is the one that offers the federal government the largest share of surplus oil – the production remaining after costs are paid. The agreement functions as a form of profit-sharing with the Brazilian government.

The call for bids sets a minimum price for each block. The bidding process is confidential regarding the submission of offers – that is, companies do not know in advance what percentage of surplus oil their competitors are offering or in which areas they will bid.

As a result, even though there was no bidding competition for the blocks, all were awarded at a premium ranging from eight to nearly 495 percent. The average premium was 108.38 percent.

Five areas in the Campos Basin (Magnetite, Tourmaline, Hematite, Larimar, and Azurite) and eight in the Santos Basin (Jade, Aragonite, Cruzeiro do Sul, Opal, Garnet, Cerussite, Ruby, and Rhodochrosite) were up for bid.

Here is the list of winners for each block awarded:

Magnetite

• Winner: Prio
• Excess oil percentage: 32.80%
• Premium: 132.79%

Hematite

• Winner: Prio
• Excess oil: 7.18%
• Premium: 315.03%

Azurite

• Winner: Petrobras
• Excess oil: 30%
• Premium: 139.81%

Jade

• Winners: Chinese companies CNOOC (70% of the consortium) and Sinopec (30%).
• Excess oil: 18.20%
• Premium: 65.76%

Cruzeiro do Sul

• Winner: Petrobras
• Excess oil: 15.27%
• Premium: 8.07%

Rubi

• Winner: Norway’s Equinor
• Excess oil: 25.02%
• Premium: 91.72%

Rodocrosita

• Winners: Norway’s Equinor (70% of the consortium) and Portugal’s Galp (30%)
• Excess oil: 15.52%
• Premium: 494.64%

The winning companies must now follow the remaining steps outlined in the schedule – such as submitting documents and paying the signing bonus – so that the contracts can then be signed, which is scheduled to take place on February 26, 2027.

The Turmalina, Larimar, Aragonita, Opala, Granada, and Cerussita blocks were not awarded. They will be carried over to the next bidding round.

Pre-salt

The pre-salt layer lies beneath a thick layer of salt, which can reach depths of up to 7,000 meters. It is currently Brazil’s main production area. In September, for example, it accounted for 82.6 percent of the country’s oil and gas production.

As ANP Director-General Artur Watt Neto stated before the auction began, the pre-salt remains “one of the most significant exploration frontiers in the world.”

“We have to continue working to offer blocks adjacent to the identified opportunities,” he said, referring to the pre-salt as “a great source of wealth for the country.”

New areas

At the start of the production-sharing auction, Renato Dutra, the Ministry of Mines and Energy’s National Secretary for Oil, Natural Gas, and Biofuels, stated that oil is a factor that gives Brazil an advantage on the international stage.

He added that the ministry is working together with the Ministry of the Environment to increase the supply of exploration blocks to “preserve national energy security.”

In the coming months, he noted, the government is expected to make more than 50 exploration blocks available in the Pelotas basin, on the country’s southern coast. The area is also viewed as promising because it has geological characteristics similar to those of the African coast, where oil is produced.

“That’s a possible step forward,” he said.

He reaffirmed the government’s interest in what is known as “unconventional” exploration – fracking. This technique involves injecting a mixture of water, sand, and chemical additives under high pressure to create fractures in rock formations and enable the extraction of fossil fuels.

The proposal faces opposition from environmentalists and is the subject of a case before the Superior Court of Justice.

The Brazilian government announced Tuesday (Oct. 6) that it has requested the blocking of 13,241 illegal gambling websites since September 25, when online betting was banned in the country. During the same period, requests were also made to remove thousands of web pages and social media profiles.

On the first day following the official shutdown of betting websites, BRL 1.325 billion still awaits refund to approximately 26.5 million bettors.

Notícias relacionadas:

• Fintechs warned for handling illegal betting funds.
• Brazil monitors online betting networks, takes down 506 websites.
• Online gambling shrinks Brazil’s consumption and economic activity.

According to Finance Minister Dario Durigan, the crackdown on illegal gambling represents a shift in household cash flow.

“We had already identified BRL 600 million to 650 million per day leaving low-income savings accounts and going to betting operations – money from low-income savings accounts that now stays with families. This is a significant change,” he stated.

Blocked websites

Of the 188 gambling websites authorized to operate in Brazil until Monday (5), only one remained operational on Tuesday. The Ministry of Finance reported that a request had also been made to block it.

The number of requests to shut down illegal websites averages some 1,103 pages per day since the ban went into effect.

In addition to the websites, the government requested the removal of content related to illegal gambling from various digital platforms:

• 974 Facebook pages;
• 560 Instagram profiles;
• 900 Telegram channels and groups;
• 103 TikTok profiles;
• 14 WhatsApp groups;
• 1 Discord server.

The collection of pages, profiles, channels, groups, and servers reached more than 17 million users, the minister noted.

Refunds

This Tuesday marked the first day that authorized betting platforms in Brazil were not operating. The shutdown follows the schedule established by the provisional measure issued by the government.

The deadline for bettors to voluntarily withdraw their funds expired at 11:59 p.m. Brasília time, on Monday (5).

The companies have until Wednesday (7) to inform financial institutions of each user’s remaining balance – identified by their taxpayer registration number – as well as the bank account used for deposits.

According to the government, the amounts still pending refund are:

• BRL 1.325 billion in remaining balances;
• 26.5 million bettors with some amount remaining on the platforms;
• 86.2 million accounts with balances from BRL 0.01 to BRL 0.99;
• BRL 15.5 million in total across accounts with less than BRL 1.

The number of accounts exceeds the number of bettors because a single person may have accounts on different platforms.

Concentrated balance

Despite the large number of accounts, most of the funds are concentrated among a small portion of users.

Minister Durigan stated that about one percent of bettors – equivalent to approximately 200,000 people – account for 80 percent of the balance that still needs to be refunded.

Meanwhile, 3.4 percent of bettors account for about 90 percent of the outstanding funds.

“The vast majority of bettors have very small balances. So, for example, one percent of bettors – some 200,000 – account for 80 percent of the balance currently pending redemption. And 3.4 percent of bettors account for 90 percent. I see that there is a high degree of concentration,” he said.

Accounts under investigation

The government also plans to investigate accounts with balances considered high. According to Durigan, about 40 accounts have balances exceeding BRL 500,000 or BRL 1 million.

The investigation will look into possible money laundering and any links to criminal organizations.

The probe is taking place in parallel with the process of returning balances to bettors and measures to block platforms deemed illegal.

Buoyed by oil, fuels, soybeans, and copper, Brazil’s trade balance posted a surplus of USD 7.74 billion in September, more than double the figure recorded in September 2025 (USD 3.14 billion).

This performance was driven by export growth, which increased 12.9 percent during the period, according to data released on Tuesday (Oct. 6) by the Ministry of Development, Industry, Trade, and Services.

Notícias relacionadas:

• Brazil’s balance of trade posts USD 7.4 billion surplus in August.
• Brazil’s July trade balance posts USD 7B surplus.

It was the second-highest surplus for the month, second only to September 2023 (USD 9.18 billion).

Key figures:

• Surplus: USD 7.74 billion (+146.4% compared with September 2025);
• Exports: USD 34.42 billion (+12.9%);
• Imports: USD 26.68 billion (-2.4%);

The trade balance - the sum of exports and imports - reached USD 61.09 billion, the highest figure recorded for September in the historical series and the second-highest for any month, second only to June of this year (USD 61.99 billion).

Export growth

The increase in exports was led by the extractive industry, followed by the manufacturing sector and agribusiness.

• Extractive industry: USD 9.44 billion (+39.8% compared with September 2025);
• Manufacturing: USD 17.67 billion (+5.3%);
• Agriculture and livestock: USD 7 billion (+4.8%).

Featured products:

• Extractive industry: crude oil (+77.3% compared with September last year), copper ore (+74.2%);
• Manufacturing: soybean meal (+47.7%), fuels (+39.1%);
• Agriculture and livestock: soybeans (+11.9%), unroasted coffee (+8.7%), rye and oats (from USD 407,000 to USD 127.8 million, a 31,200% increase due to differences in the shipping schedule).

In the case of oil, increased production and a 24.7 percent rise in average prices, following the escalation of the war in the Middle East, boosted exports.

Sales destinations

Exports grew to most of Brazil’s major markets, including the United States, despite trade tensions between the two countries. However, they fell to Asia and remained stable to South America.

Exports by region:

• Europe: USD 8.3 billion (+51.9%)
• North America: USD 5.2 billion (+30.6%)
• South America: USD 4.2 billion (stable)
• Asia: USD 17.4 billion (-2.5%)

Sales to the United States rose 31.9 percent in September, despite the imposition of new tariffs on Brazilian products. However, they fell 6.5 percent year-to-date.

For the European Union, the growth can be attributed to the agreement with Mercosur, which is boosting sales - particularly of food products - to the bloc.

Imports

Brazilian imports declined slightly in September (-2.4%), driven mainly by a drop in capital goods (-29.8%) and intermediate goods (-2.4%).

In the case of capital goods, the economic slowdown caused by high interest rates is reducing investment by the manufacturing sector, the main purchaser of machinery.

2026 year-to-date

From January through September, the trade balance recorded a surplus of USD 62.4 billion.

The period recorded:

• Exports: USD 264.65 billion (+10.4%)
• Imports: USD 222.26 billion (+5%)
• Trade balance: USD 62.4 billion (+34.8%)

Projections

Despite the growth in exports, the Ministry of Development, Industry, Trade, and Services has revised its 2026 projection downward. The estimated trade surplus has been lowered from USD 90 billion to USD 84.4 billion. Even with this decline, the result would be the second-highest annual figure since the historical series began in 1989. It would be surpassed only by 2023 (USD 98.8 billion).

Suspended since September 3, exports of chicken and honey to the European Union (EU) may resume in the near future  –  a statement made Wednesday (Sep. 30) by European Commissioner for Trade and Economic Security Maroš Šefčovič during a meeting with Brazilian Foreign Minister Mauro Vieira and Minister of Development, Industry, Trade, and Services Márcio Elias Rosa in Milwaukee, US.

The meeting took place on the sidelines of the G20 Trade Ministers’ meeting. The group comprises the 19 largest economies in the world, plus the European Union and the African Union.

Notícias relacionadas:

• Ban on Brazilian meat and honey exports to Europe takes effect.

According to a joint statement from the Ministry of Foreign Relations and the Ministry of Development, Industry, Trade, and Services, the European representative mentioned the positive outcome of a recent audit conducted in Brazil and stated that, once the bureaucratic procedures are completed, shipments of poultry meat and honey to the bloc’s member countries could resume in the near future.

Technical decision

The final decision on resuming exports will be reviewed by the European Commission’s Standing Committee on Plants, Animals, Food, and Feed. The technical meeting is scheduled for October 20 and 21.

The Ministry of Agriculture has requested that the audit report be included on the committee’s agenda. In the assessment released this week, the European Commission deemed Brazil’s production system in the poultry and honey sectors satisfactory and concluded that the country meets European requirements regarding the use of antimicrobials.

During the inspection, the auditors verified the Brazilian controls that prevent the use of antimicrobials to stimulate animal growth or increase production yields, among other things.

Beef

The Brazilian government is also seeking an expedited process to resume beef exports. According to the statement released after the meeting, Brazilian representatives expressed the hope that the same treatment given to the poultry and honey sectors could be applied to beef.

The situation, however, involves additional requirements. In the case of beef, proof of sanitary control depends on tracking the animal’s entire life cycle, from birth to slaughter. This can take up to two years, which makes lifting the restriction more complex.

Beef also accounts for a significant portion of Brazilian animal protein exports to the European market.

Suspension of sales

The European Union has removed Brazil from the list of countries deemed to be in compliance with the bloc’s rules regarding the use of certain antimicrobials in livestock production. These substances may be used to treat infections in animals, but European legislation prohibits their use to promote growth.

The suspension of imports took effect on September 3 and applied to products such as beef, pork, and chicken, as well as honey, fish, eggs, and other items of animal origin.

Since then, the Brazilian government has been in negotiations with European authorities to lift the restrictions. The audit conducted this month on the poultry and honey supply chains was regarded as a promising step, but it does not, in and of itself, guarantee the resumption of purchases.

Other products

At the meeting in Milwaukee, Brazilian ministers and the European Commissioner also discussed the European Union’s restrictions on steel imports.

According to the Brazilian government, the bloc is reviewing the allocation of quotas for steel products. The change could open up opportunities for Brazil, even though the process still has additional stages scheduled for 2027.

Data released by the General Register of Employed and Unemployed Persons (CAGED), of Brazil’s Ministry of Labor and Employment, show that 165,827 formal jobs in the private sector were created in August. The indicator measures the difference between hires and layoffs.

The net figure is 183.1 percent higher than in July’s 58,568.

Notícias relacionadas:

• Brazil’s unemployment at 5.3%, lowest for quarter ending in August.
• Unemployment drops to 5.3%, lowest for the quarter ending in July.
• Formal employment records net gain of 145,161 jobs in June.

Job creation rose 7.2 percent compared to August last year, driven by high interest rates and the economic slowdown. In August 2025, 154,683 jobs had been created, as per to seasonally adjusted data, which accounts for late filings by employers.

Compared to August figures since 2020, however, this is the second-lowest result in the series, second only to the same month last year. A change in the survey’s methodology prevents comparison with years prior to 2020.

Year to date

From January through August, the study reports a 25.2 percent decline in the year-to-date total of formal job openings:

•    1,134,033 (first eight months of 2026);
•    1,516,881 (first eight months of 2025).

The data include adjustments made after the Ministry of Labor recorded statements submitted late by employers and revised data from previous months.

Sectors

When broken down by industry, all five sectors surveyed created formal jobs in August.

•    Services: +110,346 jobs;
•    Construction: +20,848;
•    Industry (manufacturing, mining, and other types): +16,613;
•    Retail: +16,565;
•    Agriculture and livestock: +1,452.

August is traditionally a slow month for agriculture and livestock due to the start of the planting season. However, it marks the peak of industrial activity, as factories begin production for the Christmas season.

Highlights

In the services sector, job creation was driven by the education segment, which added 25,416 formal jobs. The human health and social services category added 19,142 jobs. The transportation, warehousing, and mail sector created 16,819 jobs.

In construction, the standout was the specialized construction services segment, which created 8,415 formal jobs. Infrastructure projects came in second, with 7,396 jobs.

In manufacturing, the largest source of jobs was food product manufacturing, with 10,171 openings, followed by the manufacture of motor vehicles, trailers, and vehicle bodies (+3,311) and the manufacture of coke, petroleum products, and biofuels (+2,845).

Regions and States

All five Brazilian regions reported an increase in formal job openings in August.

•    Southeast: +73,167 jobs;
•    Northeast: +59,356;
•    North: +13,603;
•    South: +10,850;
•    Central-West: +8,699.

When broken down by state, 24 recorded a net increase, while three laid off more workers than they hired. The top performers in job creation were São Paulo (+42,533), Rio de Janeiro (+20,886), and Pernambuco (+13,428).

The states that lost formal jobs in August were Rio Grande do Sul (-1,611), Rondônia (-923), and Espírito Santo (-287).

According to the figures, in Espírito Santo, the layoffs stem from the end of the coffee harvest. In Rondônia, they are linked to the food industry. In Rio Grande do Sul, they were concentrated in the tobacco industry and the retail sector.

Average starting salary

The average real starting salary in August totaled BRL 2,410.74. This represents:

•    a decrease of BRL 0.74 (-0.03%) compared to July (R$ 2,411.48);
•    an increase of BRL 24.31 (+1.02%) compared to August 2025 (R$ 2,386.43).

Formal employment

With the creation of formal jobs, the number of workers with formal employment in the private sector stood at 48,244,696 at the end of August, up one percent from July and 1.02% from the same month last year.

Brazil’s unemployment rate for the quarter ending in August stood at 5.3 percent, the lowest ever recorded for that period since 2012, when the statistics bureau IBGE began its time series. In addition, the agency reported record highs in the number of employed workers, formal employment, total payroll, and social security contributions.

The unemployment rate for the three-month period through August was down from the rolling three-month average through May (5.6%) and from the same period in 2025 (5.6%). According to the Secretariat of Economic Policy of the Ministry of Finance, the result was in line with market analysts’ expectations.

Notícias relacionadas:

• Unemployment drops to 5.3%, lowest for the quarter ending in July.
• Second quarter has 5.4% unemployment, lowest ever for the period.
• Brazil’s unemployment in quarter ending in May drops to record 5.6%.

The data are part of the Continuous PNAD (National Household Sample Survey), released Tuesday (Sep. 29).

The survey shows that in the quarter ending in August, the employed population reached 103.5 million people – the highest figure ever recorded. This figure represents a 0.8 percent increase compared to the quarter ending in May – that is, an additional 774,000 workers.

The survey also reveals that the economic sectors driving the rise in employment were general manufacturing (a two percent increase, 265,000 more people) and construction (4.1 percent, 306,000 more people).

Formal employment at an all-time high

The number of private-sector employees with formal employment reached 39.5 million, also a record high.

The unemployed population stood at 5.8 million at the end of the period, a 4.6 percent decline (down 281,000) compared to the March–May quarter.

The discouraged labor force – comprising those who do not even look for work because they believe they will not find any – totaled 2.4 million as of August – stable compared to the previous quarter and 11.9 percent lower (317,000 fewer) than the same period in 2025.

Informality – the proportion of informal workers in the employed population – stood at 37.5 percent, representing 38.8 million people. In the previous quarter, it stood at 37.3 percent.

The survey classifies as informal workers those without a formal employment contract, as well as self-employed individuals and employers without a corporate taxpayer ID. These individuals are not guaranteed benefits such as unemployment insurance, paid vacation, and a Christmas bonus.

Record payroll

The average monthly income per worker was BRL 3,777. In the quarter ending in May, it was BRL 3,752. The highest figure on record was BRL 3,783, in the quarter ending in February 2026.

The total payroll – the sum of all workers’ wages, which is ultimately used for consumption, debt repayment, investments, and savings – reached BRL 385.6 billion, the highest on record, with a 1.4 percent growth in the quarter (up BRL 5.2 billion) and a 4.8 percent growth (up BRL 17.5 billion) year-over-year.

Record-high number of social security contributors

According to the study, Brazil has reached the highest number ever recorded of workers contributing to social security institutions – 68.5 million people. This means that out of every 100 workers, 66.2 contribute.

By contributing to social security institutions, workers are entitled to benefits such as retirement, disability, and survivor’s pensions.

The agency defines contributors as employees, employers, domestic workers, and self-employed individuals who have contributed to official federal, state, or municipal social security institutions.

Labor market overview

The survey tracks labor market trends for people aged 14 and older and takes into account all forms of employment – including formal and informal jobs, temporary positions, and self-employment.

According to the research criteria, only those who actively sought a job within 30 days prior to the survey are considered unemployed. The survey visits 211,000 households across all states and the Federal District.

The lowest unemployment rate ever recorded by the PNAD was 5.1 percent, in the last quarter of 2025. The highest rate ever recorded was 14.9 percent, reached in two periods – the rolling quarters ending in September 2020 and March 2021, both during the COVID-19 pandemic.

The Brazilian government announced on Friday (Sep. 25) a provisional measure prohibiting the operation, offering, brokering, and advertising of online betting and gaming platforms in Brazil, commonly known as “bets.”

As of the measure’s publication, platforms are barred from accepting new bets. It establishes a transition period for authorized companies to wind down their operations.

Notícias relacionadas:

• Brazilian families lost USD 12 billion to online gambling in 2025.
• Online gambling shrinks Brazil’s consumption and economic activity.
• Brazil expands telemedicine care for gambling addiction.

Bettors will have until 11:59 p.m. on October 5 to voluntarily withdraw the funds available on the platforms. Those who do not withdraw their funds during this period will have their remaining balances refunded through the banks that process payments for the betting companies between October 9 and 14.

Betting websites and apps must be taken offline starting October 6. On October 7 and 8, the companies must provide banks with the amounts held in bettors’ accounts, linked to their respective taxpayer identification number. Financial institutions will issue full refunds of the balances.

If any issues arise with the refunds, Caixa Econômica Federal may facilitate payments to bettors starting October 14.

Enforcement

The Brazilian government plans to step up enforcement against illegal platforms and investigations into financial transactions related to gambling. The strategy includes identifying and taking down illegal websites, freezing bank accounts improperly used for gambling, and sharing information among government agencies.

The Ministry of Justice and Public Security and the Federal Police will receive additional resources to support enforcement efforts.

After signing the provisional measure banning betting operations in the country, President Luiz Inácio Lula da Silva said online betting sites are a “cancer” that must be eliminated.

“I took a tough and drastic measure that was necessary. This is like a cancer. Either we remove the tumor, or this tumor will kill us,” he stated.

Lula also compared online gambling addiction to crack cocaine use, noting that families are being destroyed and people are taking on unpayable debts because of the condition, also known as pathological gambling.

The president said he decided to ban online gambling in Brazil after consulting with his economic team, civil society organizations, and citizens. He pointed out he had spoken with businesspeople, homemakers, and even staff members at the Alvorada presidential palace, the president’s official residence, as well as with a woman who had attempted suicide three times and another whose son died by suicide after accumulating gambling debts.

“We won’t allow you to be exploited by credit card companies or betting sites and spend money meant for milk, your child’s bread, meals, and the things your wife needs at home. We’re trying to free the poorest people in this country from killing themselves over the prospect of winning,” Lula declared.

Soccer

Regarding complaints from soccer clubs sponsored by betting companies, Lula emphasized that Brazilian teams have won world championships without betting sponsorship, and that the Brazilian national team won the World Cup five times before betting companies entered the Brazilian market.

The president added he had been informed that betting sponsorship of soccer clubs accounts for between 6 percent and 7 percent of a team’s budget.

“What’s unacceptable is for a team not to realize that its fans already support the club, go to the stadium, and buy jerseys for their wives and children. Not only does the poor bettor contribute everything he has, but does the team also want to pay off its debts with the fans’ hard-earned money?” he added.

Impacts

Studies have shown the negative effects of this type of betting on household budgets and bettors’ mental health.

Gambling caused a BRL 62.5 billion shortfall in household budgets in 2025 alone, according to the National Committee of Finance Secretaries (Comsefaz). One in five students (20.4%) in the final years of elementary and high school said they had placed online bets. This proportion rises to nearly half (49.7%) among students in the 12th grade.

According to the Ministry of Health, the harms associated with gambling generate a social cost of BRL 38.8 billion per year. The estimate includes BRL 3 billion for the medical treatment of depression, BRL 10.4 billion for the loss of quality of life associated with depression, BRL 17 billion related to additional deaths from suicide, and BRL 30.6 billion in health-related costs.

In addition, the government estimates that BRL 8.2 billion is associated with homelessness, unemployment insurance payments, and incarceration.

Mental health professionals have been calling for urgent action to address the online gambling market. According to them, people with gambling addictions may exhibit signs such as social withdrawal, increased alcohol consumption, or significant changes in behavior.

Gambling addiction can develop through physiological processes in the brain and body. When a person gambles, the brain may release dopamine in anticipation of a win, which can act as a form of reward. This process can influence brain regions involved in decision-making and behavior. The brain may then become conditioned by this intermittent reinforcement.

The financial reward, however, does not correspond proportionally to the chemical reward.

The Free Trade Agreement between Mercosur and the European Free Trade Association (EFTA) was enacted by Brazil this Friday (Sep. 25).

The bloc of European countries consists of Iceland, Liechtenstein, Norway, and Switzerland, which are not members of the European Union. The South American group, meanwhile, includes Brazil, Argentina, Bolivia, Paraguay, and Uruguay – Venezuela has been suspended as a member state since 2017.

Notícias relacionadas:

• Brazil’s balance of trade posts USD 7.4 billion surplus in August.
• Brazil ratifies Mercosur trade agreements with EFTA, Singapore.
• Talks on Mercosur–Canada free trade deal advance.

According to the Planalto presidential palace, the decree published this Friday completes the process of implementing the treaty in Brazil, establishing “commitments to expand trade and investment flows between the countries of the two blocs.” Legally, it will take effect on October 1, 2026.

The treaty provides for the expansion of trade and investment between the two blocs, with the reduction of technical barriers, as well as sanitary and phytosanitary measures deemed unnecessary for trade.

In addition, it outlines streamlined customs procedures and greater access to government procurement markets.

Commitments

Signed on September 16, 2025, by President Luiz Inácio Lula da Silva, the presidential decree also establishes commitments in the areas of intellectual property, sustainable development, environmental protection, biodiversity, and human rights.

“For Brazil, the agreement expands opportunities for Brazilian products to enter the markets of EFTA countries and creates conditions for increased trade and investment flows,” an official statement by the president’s office reads.

The agreement also includes the recognition and protection of geographical indications, a mechanism designed to promote products linked to specific regions of origin.

According to the presidential palace, negotiations between the two blocs were concluded in 2025, following ten rounds that began in 2017.

The text was approved by the National Congress in June this year and ratified by the Brazilian government in July.

The preliminary official inflation rate for September stood at 0.70 percent, the highest since April, when it reached 0.89 percent. The result marked a reversal from August’s deflation, when the rate stood at -0.40 percent.

The main reason for the acceleration was the reversal of the Itaipu bonus, a discount consumers received on their electricity bills the previous month.

Notícias relacionadas:

• Brazil’s August inflation comes in -0.32%, lowest in four years.

The data are from the Extended National Consumer Price Index 15 (IPCA-15), released this Friday (Sep. 25) by Brazil’s statistics bureau IBGE.

With this result, the IPCA-15 stands at 4.47 percent for the 12-month period. In August, it was 4.24 percent. In September 2025, the preliminary inflation figure stood at 0.48 percent.

In 2026, the IPCA-15 stands at 3.82 percent. Here is the month-by-month trend in the preliminary inflation rate for the year:

• January: 0.20%

• February: 0.84%

• March: 0.44%

• April: 0.89%

• May: 0.62%

• June: 0.41%

• July: 0.06%

• August: -0.40%

• September: 0.70%

Groups

To arrive at the monthly result, IBGE calculates price changes across nine groups of goods and services. Here’s how the groups performed:

·  Housing: 2.07% (impact of 0.31 percentage points)

·  Personal expenses: 0.96% (0.10 percentage points)

·  Transportation: 0.60% (0.12 percentage points)

·  Household goods: 0.55% (0.02 percentage points)

·  Communication: 0.54% (0.02 percentage points)

·  Clothing: 0.41% (0.02 percentage points)

·  Food and beverages: 0.40% (0.09 percentage points)

·  Health and personal care: 0.13% (0.02 percentage points)

·  Education: 0.03% (0 percentage points)

Itaipu bonus

The increase in the housing category - which exerted the most pressure on the preliminary figure - is explained by the price of residential electricity, which rose 7.42 percent in September, accounting for the index’s largest individual impact (0.29 percentage points). This occurred because electricity bills had fallen 6.25 percent in August, benefiting from the Itaipu Bonus.

The bonus consists of distributing the positive balance of Itaipu’s sales account, a state-owned hydroelectric plant, which is applied as a credit to electricity bills.

In September, since this discount was no longer available, the “normal” electricity bill was compared with the lower August bill, resulting in a larger month-on-month increase. This effect had already been anticipated by IBGE and analysts.

Transportation and fuels

In the Transportation group, the result was influenced by airfare, which rose 9.82 percent.

Fuel prices rose 0.22 percent, with the following price changes:

• Automotive gas: 1.56%
• Gasoline: 0.30%
• Diesel: -0.78%
• Ethanol: -0.22%

Food

In the food and beverage group, the subgroup for food consumed at home rose 0.38 percent in September. In August, a 0.97 percent decline had been recorded.

The largest increases in food consumed at home were:

• Tomatoes: 20.76%
• Rice: 2.39%
• Meat: 1.30%

The most notable decreases were:

• Carioca beans: 6.33%
• Onions: 4.41%
• Ground coffee: 1.36%

Inflation preview

The IPCA-15 uses essentially the same methodology as the IPCA - the so-called “official inflation” measure - which serves as the basis for the government’s inflation-targeting policy: a 3 percent year-over-year rate, with a tolerance margin of 1.5 percentage points on either side.

The difference lies in the price-collection period and geographic coverage. For the preliminary report, the survey is conducted and released before the end of the reference month. For the current release, data were collected from August 15 to September 15.

Both indices are based on a basket of goods and services for households earning from one to 40 minimum wages. Currently, the minimum wage is BRL 1,621.

The IPCA-15 collects prices for 367 products and services (10 fewer than the IPCA) in 11 locations across the country: the metropolitan areas of Rio de Janeiro, Porto Alegre, Belo Horizonte, Recife, São Paulo, Belém, Fortaleza, Salvador, and Curitiba, as well as Brasília and Goiânia. The IPCA covers 16 locations, including Vitória, Campo Grande, Rio Branco, São Luís, and Aracaju.

Last Monday’s (21) Focus Bulletin - a survey by Brazil’s Central Bank of financial market institutions - indicates that the market expects September inflation at 0.52 percent.

Brazil’s forests generated an economic output valued at BRL 47.9 billion in 2025 – the highest figure ever recorded in Brazil, up 6.7 percent from the previous year.

The data cover natural or planted forests and are part of a survey released Thursday (Sep. 24) by the statistics bureau IBGE.

The institute takes into account silviculture – when production comes from planted areas – and extractive activities, which refer to originally natural green areas.

Silviculture soars

Silviculture jumped 8.6 percent from 2024 to 2025, reaching BRL 41 billion. Plant extraction moved in the opposite direction and fell 3.1 percent, totaling BRL 6.9 billion.

In the late 1990s, silviculture and extractive activities alternated as the main drivers of forest production. Since then, however, production from planted areas has skyrocketed, reaching 85.6 percent in 2025, leaving only 14.4 percent for plant extraction.

The survey notes that, since 2019, the economic value of silviculture has grown by 165 percent. According to the institute, this is due to technological advances. In 2025, planted forests totaled 10.4 million hectares (104,000 km²).
 

Eucalyptus and cellulose

Of this area, 78.6 percent is planted with eucalyptus, a fast-growing tree maturing in about seven to eight years, used primarily in the manufacture of cellulose, a key raw material for paper production.

Brazil’s silviculture makes the country the world’s largest producer and exporter of cellulose, a position it has held since 2022, when it surpassed Canada.

The study also reports that Brazil’s global prominence is driven by climatic conditions and soil that are favorable to rapid forest growth, as well as “investments in sustainable practices, which make it highly competitive in the international market.”

In 2025, Brazil produced 22.2 million metric tons of cellulose, 12.7 percent more than in the previous year.

In terms of value, the figure was USD 10.2 billion – a 3.9 percent decline over the past year. As a commodity, the price of cellulose is directly influenced by the global market.

The IBGE explains that prices fell due to “global oversupply, a slowdown in Chinese consumption and the resulting increase in inventories, and exchange rate factors, such as the appreciation of the real.”

Cellulose was Brazil’s eighth-largest export in 2025. The top three exports, in order, were petroleum, soybeans, and iron ore.

Food products

The report also found that food products accounted for BRL 2.2 billion in production value.

Half of this amount came from açaí (251,000 metric tons), with two-thirds of this production (66.7%) coming from the Northern state of Pará.

Yerba mate ranked second among non-timber products, with BRL 562.3 million. Of all the yerba mate harvested in the country, 88.4 percent came from the state of Paraná, in South Brazil.

Petrobras announced on Wednesday (Sep. 23) that it had signed a memorandum of understanding for strategic cooperation in the oil and gas sector in Mozambique, a country on the southeast coast of Africa.

The agreement was signed with the National Hydrocarbons Company (ENH), the Mozambican government’s commercial arm for oil and gas exploration, production, processing, marketing, and distribution.

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Among the document’s objectives are joint efforts in studies, evaluation, development, and marketing, as well as the exchange of knowledge and technical expertise. The agreement is valid for two years and may be extended.

Focus on natural gas

Mozambique, a country with a population of about 30 million, shares with Brazil the legacy of having been a Portuguese colony, which explains why the two countries speak the same language.

According to the National Petroleum Institute of Mozambique, a state agency, the country stands out as a major source of liquefied natural gas (LNG).

Foreign companies are already operating in the country, including France’s TotalEnergies, US-based ExxonMobil, China National Offshore Oil Corporation (CNOOC), China National Petroleum Corporation (CNPC), Italy’s Eni, Portugal’s Galp, and South Africa’s Sasol.

Petrobras in Africa

This week’s move marks another step by Petrobras toward strengthening its presence on the African continent.

The state-owned company operates in Ivory Coast, Namibia, São Tomé and Príncipe, and South Africa. In August 2026, it began negotiations for exploration blocks in Ghana, on the west coast of Africa.

This expansion into Africa marks a return to the region. In the early 2000s, the company operated in countries such as Nigeria, Tanzania, Angola, Benin, Gabon, and Namibia, but those stakes were later sold.

In addition to Brazil and Africa, Petrobras operates in Argentina, Bolivia, Colombia, and the United States.