Negative result grows and pressures public accounts
The first half of 2026 ended with a red flag for Correios. The state-owned postal company accumulated a net loss of R$ 5.55 billion between January and June, a figure that exceeds by 30.36% the R$ 4.26 billion deficit recorded in the same period of the previous year.
The number, taken from the company's most recent financial statements, reveals that the deterioration trajectory of the company's finances was not interrupted by the restructuring measures already announced.
For former Finance Ministry secretary, the remedy applied is insufficient
In the assessment of Márcio Holland, former secretary of Economic Policy at the Ministry of Finance, the response being given to the problem is too small for the size of the challenge.
According to the economist, the internal adjustment — spending cuts, route reviews and administrative downsizing — does not address the structural causes that push Correios toward successive negative results.
- The loss of ground to private competitors in the parcel segment
- The growing weight of payroll and pension plans
- The need for massive investment in automation and logistics
> "Restructuring without changing the business model is postponing the problem," summarizes Holland, who sees a risk that the bill will migrate, once again, to the taxpayer.
Domino effect on the Budget
The former secretary's warning is backed by numbers. When a state-owned company closes the half-year with a deficit of this magnitude, the Treasury tends to be called upon to cover the difference — through direct capital injections or credit operations.
This movement compresses federal investment capacity and contaminates the fiscal target pursued by the government, in a scenario where mandatory expenses already consume most of the available Budget.
In short: without a deep overhaul that combines revenue diversification and a definitive cut of loss-making structures, Correios runs the risk of repeating, year after year, the same storyline of billion-dollar losses.