Brazil Gross Debt to GDP Rises in July

Gross Public Debt in Brazil reached 77.6% of GDP (R$9.6 trillion) in July 2025, an increase of 0.9 percentage points of GDP compared to the previous month.The monthly change was mainly due to accrued nominal interest (+0.8 p.p.), net debt issuance (+0.4 p.p.), the effect of exchange rate depreciation (+0.1 p.p.), and the variation of nominal GDP (-0.4 p.p.).For the year to date, DBGG rose by 1.1 p.p.

of GDP, mainly as a result of accrued nominal interest (+5.1 p.p.), nominal GDP growth (-3.6 p.p.), and the effect of exchange rate appreciation (-0.4 p.p.).