Brazil’s nominal budget deficit widened to R$115.5 billion in December 2025, from R$80.4 billion in December 2024, above forecasts of a R$95.4 billion deficit. In the month, the consolidated public sector posted a surplus of R$6.3 billion, down from a surplus of R$15.7 billion a year earlier. The result reflected surpluses of R$21.6 billion in the Central Government and R$4.5 billion in state-owned enterprises, which were partly offset by a R$19.8 billion deficit in regional governments. Nominal interest expenditures rose to R$121.8 billion, from R$96.1 billion in December 2024, driven by higher Selic rates and a larger net debt stock. For full-year 2025, the consolidated public sector recorded a nominal deficit of R$1,062.6 billion, equivalent to 8.34% of GDP, compared with a deficit of R$998.0 billion, or 8.47% of GDP, in 2024. source: Banco Central Do Brasil

Brazil recorded a government budget deficit of 115502 BRL Million in December of 2025. Government Budget Value in Brazil averaged -27900.83 BRL Million from 1998 until 2025, reaching an all time high of 84061.23 BRL Million in January of 2022 and a record low of -210161.02 BRL Million in June of 2020. This page provides the latest reported value for - Brazil Government Budget Value - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Brazil Government Budget Value - data, historical chart, forecasts and calendar of releases - was last updated on February of 2026.



Calendar GMT Reference Actual Previous Consensus TEForecast
2025-12-30 11:30 AM
Nominal Budget Balance
Nov BRL-101.6B BRL-81.522B BRL-86.4B BRL-84.0B
2026-01-30 11:30 AM
Nominal Budget Balance
Dec BRL-115.502B BRL-101.6B BRL -95.4B BRL -82.0B
2026-02-27 11:30 AM
Nominal Budget Balance
Jan BRL-115.502B BRL 54.0B


Related Last Previous Unit Reference
Government Budget -8.50 -8.84 percent of GDP Dec 2024
Nominal Budget Balance -115502.00 -101600.00 BRL Million Dec 2025
Government Debt 10017919.14 9990926.09 BRL Million Dec 2025
Government Debt to GDP 76.50 73.83 percent of GDP Dec 2024
Gross Debt to GDP 78.70 79.00 percent of GDP Dec 2025


Brazil Government Budget Value
In Brazil, government budget value refers to the nominal budget balance, which comprises the central government, regional governments and public enterprises and also includes debt servicing costs and the nominal interest of the federal government.
Actual Previous Highest Lowest Dates Unit Frequency
-115502.00 -101600.00 84061.23 -210161.02 1998 - 2025 BRL Million Monthly
Current Prices, NSA

News Stream
Brazil Nominal Budget Deficit Widens in December
Brazil’s nominal budget deficit widened to R$115.5 billion in December 2025, from R$80.4 billion in December 2024, above forecasts of a R$95.4 billion deficit. In the month, the consolidated public sector posted a surplus of R$6.3 billion, down from a surplus of R$15.7 billion a year earlier. The result reflected surpluses of R$21.6 billion in the Central Government and R$4.5 billion in state-owned enterprises, which were partly offset by a R$19.8 billion deficit in regional governments. Nominal interest expenditures rose to R$121.8 billion, from R$96.1 billion in December 2024, driven by higher Selic rates and a larger net debt stock. For full-year 2025, the consolidated public sector recorded a nominal deficit of R$1,062.6 billion, equivalent to 8.34% of GDP, compared with a deficit of R$998.0 billion, or 8.47% of GDP, in 2024.
2026-01-30
Brazil Nominal Deficit Widens in November
Brazil’s nominal budget deficit widened to R$101.6 billion in November 2025, from R$99.1 billion a year earlier. The consolidated public sector posted a primary deficit of R$14.4 billion, versus R$6.6 billion in November 2024. The Central Government recorded a deficit of R$16.9 billion and state-owned enterprises a deficit of R$2.9 billion, while regional governments posted a surplus of R$5.3 billion. Nominal interest expenses totaled R$87.2 billion, down from R$92.5 billion a year earlier. Over the twelve months to November, the nominal deficit reached R$1.03 trillion, equivalent to 8.13% of GDP, compared with R$1.02 trillion, or 8.15% of GDP, in October.
2025-12-30
Brazil Nominal Deficit Widens in October
Brazil’s nominal budget deficit widened to R$81.5 billion in October 2025, up from R$74.7 billion a year earlier. The consolidated public sector posted a primary surplus of R$32.4 billion, below the R$36.9 billion surplus in October 2024. The Central Government recorded a R$36.2 billion surplus, while regional governments and state-owned firms saw deficits of R$3.6 billion and R$149 million, respectively. Nominal interest totaled R$113.9 billion, slightly above the R$111.6 billion recorded a year earlier. Over the twelve months to October, the nominal deficit reached R$1.0249 trillion (8.18% of GDP), compared with R$1.0180 trillion (8.15% of GDP) in September.
2025-11-28