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State-Run Company Accumulates Loss of R$ 4.3 Billion in The Semester, Requests Emergency Assistance from the Treasury, and Warns of Collapse by 2026, but the Ministry of Finance Fears Impact on Budget and Demands Restructuring Before Releasing Resources
The crisis at Correios has worsened with the confirmation of a deficit of R$ 4.37 billion in the first semester, more than triple the loss from the previous year. To maintain operations until 2026, the state-owned company requested R$ 7 billion from the National Treasury, divided into an immediate injection of R$ 2 billion in 2025 and an additional R$ 5 billion in 2026.
However, the Ministry of Finance resists the release of the funds. Technicians from the ministry warn that if the assistance is granted, Correios will be officially classified as a dependent company, which would force the government to account for R$ 20 billion in expenses in the federal budget, sacrificing other public policies.
Historic Deficit Pressures Government and Accelerates Internal Changes
The financial alert was accompanied by changes in management. Fabiano Silva dos Santos, resigning president since July, was replaced by Emmanoel Schmidt Rondon, a technical figure approved by the Board of Directors.
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The expectation behind the scenes is that this renewal will facilitate dialogue with the economic team of Fernando Haddad, which demands concrete actions to cut expenses before any assistance.
Even with the change in leadership, the internal situation is critical. According to reports from Geralda Doca and Thaís Barcellos from O Globo, Correios have already been delaying payments to suppliers and service providers.
The payroll has only been paid on time at the cost of failing to meet other financial obligations, such as contributions to the pension fund.
Finance Ministry Demands Cutting Plan and New Role for the State-Run Company
The assessment from the Finance Ministry is that, before any injection of funds, the state-owned company needs to present a solid restructuring plan.
Technicians suggest reconsidering Correios’ role in the digital age, including transferring part of the obligation for postal universalization to other market agents.
Today, this legal obligation to reach all corners of the country makes the service naturally deficit, consuming a large part of the revenue.
For Haddad and his allies, this model is exhausted, and the state-run company needs to compete equally with private companies, without relying on permanent public funding.
Change of Profile and End of Political Quota
With the departure of Fabiano Silva, linked to the Prerrogativas group and the PT, the Lula government opted for a more technical profile.
The exit of União Brasil from the allied base opened the way for the removal of political appointments made to the state-owned company, including those who led three of the five directorates at Correios, in addition to positions at Postal Saúde and the Postalis pension fund.
Despite this, two directorates led by technical women are expected to be maintained: Juliana Picoli Agatte (Governance and Management) and Loiane Bezerra de Macedo (Financial Directorate).
Both were considered for the presidency, but the Planalto chose someone from outside the internal ranks.
Model Crisis and Legacy of Privatization Attempt
During Bolsonaro’s government, Correios were prepared for privatization.
With the change in orientation in Lula’s government, the project was abandoned, but the company has not managed to stabilize its accounts. The liabilities grew and, by 2025, the deficit reached a historic level.
According to reports from O Globo, the state-owned company faces political interference in the states, union resistance to cuts, and difficulties in reducing personnel expenses, which still account for about 60% of fixed expenses.
The previous board was also criticized for the slowness in adopting emergency measures.
Internal Political Resistance Delays Definitive Solution
The choice of Rondon as president was not easy. Initially, he resisted the invitation.
But, with support from the Civil House and the Finance Ministry, he eventually accepted the challenge of restructuring one of the most symbolic state-owned companies in the country, still marked by decades of political patronage and outdated operational models.
The government knows that any decision regarding Correios will have political and budgetary impacts.
Direct assistance would be a quick solution, but with a high fiscal cost. In contrast, deep restructuring will require time, facing internal interests, and revising the public mission of the state-run company.
Is Treasury assistance valid or does it merely postpone the inevitable end of an outdated model? We want to know what you think about the crisis at Correios and the future of the state-owned company. Please leave your opinion in the comments and participate in the debate about the role of public services in today’s Brazil.
Em relação aos correios tem tudo pra voltar a ser a melhor empresa de entregas do Brasil com todo respeito aos entregadores da shop ,mercado livre e outras a confiabilidade nos correios é diferenciado.
O problema é que muita gente manda mas poucos entenderão meu ver deveriam sim investir na recuperação dessa empresa histórica que dentro de condições normais supera qualquer concorrente.
Segundo apuração d’O Globo, a estatal enfrenta ingerência política nos estados, resistência sindical a cortes e dificuldades em enxugar gastos com pessoal, que ainda representam cerca de 60% das despesas fixas.
A diretoria anterior também foi criticada pela lentidão na adoção de medidas emergenciais.
Está na própria matéria. Dar mais dinheiro, não vai resolver esses problemas. Seria como botar mais água em uma panela fervendo pra evitar que ela derrame.
Os Correios deviam estar pedindo socorro aos Estados, regionalmente (infelizmente não podem). Porque foi a ganância dos governadores que enterrou de vez as importações, com o ICMS absurdo cobrado.
Até o Amazonas, que nunca cobrou o ICMS devido a ZFM, passou a se beneficiar de 20% mas onda dos outros Estados.