Brazil’s nominal budget deficit jumped to BRL 199.5 billion in March 2026 from BRL 71.6 billion a year earlier, above market expectations of a BRL 148 billion gap. The central government gap widened to BRL 187 billion from BRL 69 billion in March 2025, and the regional governments' deficit climbed to BRL 11.3 billion from BRL 1.7 billion a year ago. At the same time, the state-owned companies' shortfall rose to BRL 1.3 billion, up from BRL 0.9 billion a year ago. The country's government debt as a share of the GDP increased to 80.1% from 79.2% the month before and surpassing market forecasts of 79.6%. source: Banco Central Do Brasil

Brazil recorded a government budget deficit of 199539 BRL Million in March of 2026. Government Budget Value in Brazil averaged -28438.52 BRL Million from 1998 until 2026, 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 May of 2026.



Calendar GMT Reference Actual Previous Consensus TEForecast
2026-03-31 11:30 AM
Nominal Budget Balance
Feb BRL-100.589B BRL40.062B BRL-75.0B
2026-04-30 11:30 AM
Nominal Budget Balance
Mar BRL-199.539B BRL-100.589B BRL-148B BRL-120.0B
2026-05-29 11:30 AM
Nominal Budget Balance
Apr BRL-199.539B


Related Last Previous Unit Reference
Government Budget -8.30 -8.50 percent of GDP Dec 2025
Nominal Budget Balance -199539.00 -100589.00 BRL Million Mar 2026
Government Debt 10178332.41 10079963.20 BRL Million Feb 2026
Government Debt to GDP 78.64 76.27 percent of GDP Dec 2025
Gross Debt to GDP 80.10 79.20 percent of GDP Mar 2026


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
-199539.00 -100589.00 84061.23 -210161.02 1998 - 2026 BRL Million Monthly
Current Prices, NSA

News Stream
Brazil Posts Largest Budget Gap in Nearly 6 Years
Brazil’s nominal budget deficit jumped to BRL 199.5 billion in March 2026, the largest since June 2020, from BRL 71.6 billion a year earlier, above market expectations of a BRL 148 billion gap. The central government gap widened to BRL 187 billion from BRL 69 billion in March 2025, and the regional governments' deficit climbed to BRL 11.3 billion from BRL 1.7 billion a year ago. At the same time, the state-owned companies' shortfall rose to BRL 1.3 billion, up from BRL 0.9 billion a year ago. The country's government debt as a share of the GDP increased to 80.1% from 79.2% the month before and surpassing market forecasts of 79.6%.
2026-04-30
Brazil's Budget Deficit Widens in February
Brazil's nominal budget deficit widened to R$100.6 billion in February 2026 from R$97.2 billion. The consolidated public sector recorded a primary deficit of R$16.4 billion in February, compared to R$19.0 billion in February 2025. The Central Government posted a R$29.5 billion deficit while state-owned enterprises recorded a R$568 million deficit, offset by regional governments' R$13.7 billion surplus. Nominal interest on the consolidated public sector totaled R$84.2 billion in February 2026, up from R$78.3 billion in February 2025. This increase was driven by higher net indebtedness, the Selic rate, and inflation, more than offsetting two fewer business days and more favorable foreign exchange swap results. Over 12 months, the nominal deficit reached R$1,089.6 billion, representing 8.48% of GDP and remaining stable as a share of GDP compared to the prior month.
2026-03-31
Brazil's Nominal Budget Deficit Narrows in January
Brazil's nominal budget deficit narrowed to R$40.1 billion in January 2026 from R$63.7 billion a year earlier, coming in slightly below forecasts of R$49.5 billion. The consolidated public sector posted a primary surplus of R$103.7 billion, compared to R$104.1 billion in January 2025. The Central Government and regional governments recorded surpluses of R$87.3 billion and R$21.3 billion, respectively, while state-owned enterprises posted a deficit of R$4.9 billion. Nominal interest expenses for the consolidated public sector totaled R$63.6 billion in January, up from R$40.4 billion a year earlier. The increase was driven by growth in the Selic rate and net debt stock, which more than offset gains from foreign exchange swap operations. Over the twelve-month period, the nominal deficit reached R$1,086.2 billion (8.49% of GDP).
2026-02-27