Discover what lies behind the years-long crisis at Correios

The Empresa Brasileira de Correios e Telégrafos, also known as Correios, has been facing an economic and financial crisis since mid-2022 during former President Jair Bolsonaro’s tenure, which has continued under Luiz Inácio Lula da Silva’s administration. For twelve consecutive quarters, the public company has been experiencing losses, resulting in a $4.36 billion deficit in the first half of 2025. This deficit indicates that Correios’ expenses exceeded the revenue generated during the year. The continuous negative results led to the first billion-dollar loss for the company since 2016, with a $1.5 billion deficit in that year (equivalent to $2.3 billion in today’s values) growing to $2.6 billion in 2024.