11 answers, 5 from Brazil's own official bodies, with a link to each figure.
Does Brazil have a budget deficit?
Brazil's central government ran a primary deficit of R$13.6 billion in August 2026, compared with R$15.5 billion in August 2025, according to the National Treasury's RTN bulletin for August 2026. For the whole public sector, the Central Bank of Brazil's borrowing requirement series shows a primary deficit equal to 0.62% of GDP over the 12 months to August 2026 (SGS 5793).
The primary result excludes interest payments. The Treasury figure covers the federal government, social security and the central bank; the central bank figure adds states, municipalities and state companies and is measured from financing. In the central bank series a positive value is a deficit.
What is Brazil's overall deficit including interest?
Brazil's consolidated public sector nominal deficit was 9.48% of GDP over the 12 months to August 2026, according to the Central Bank of Brazil (SGS 5727). Nominal interest accounted for 8.86% of GDP over the same period (SGS 5760).
The nominal result is the primary result plus interest on public debt, so in Brazil it is driven mostly by interest costs, which rise and fall with the Selic policy rate. The series exclude the effect of exchange-rate changes and cover federal, state and municipal governments and state companies. Positive values are deficits.
Brazil's federal revenue totalled R$235.6 billion in August 2026, 8.25% more than in August 2025 after inflation (IPCA), according to the Receita Federal's monthly revenue analysis for August 2026. From January to August 2026 federal revenue reached R$2.11 trillion, a real increase of 7.12%.
Of the August total, R$227.9 billion was revenue administered by the Receita Federal, such as income tax, corporate taxes and social contributions; the rest comes from other bodies. These figures are federal only: state taxes such as ICMS and municipal taxes are collected separately and are not included.
Brazil's 2026 budget law, Law 15,346 of 14 January 2026, estimates federal revenue and fixes spending at R$6.54 trillion. Of that, the fiscal and social security budgets account for R$6.34 trillion, including R$1.82 trillion for refinancing federal public debt; the rest is the investment budget of state companies.
Because the total includes debt refinancing, it is much larger than what the government spends on services and benefits. The Ministry of Planning and Budget publishes the law, its volumes and comparisons with the 2025 budget on its 2026 budget law page.
How much does Brazil spend on interest on its debt?
Nominal interest on Brazil's public sector debt equalled 8.86% of GDP over the 12 months to August 2026, according to the Central Bank of Brazil (SGS 5760). It was 8.80% in the 12 months to June and 8.68% to July.
The series covers the consolidated public sector, which includes federal, state and municipal governments and state companies, and leaves out the effect of exchange-rate changes. Interest is the main reason the overall (nominal) deficit is far larger than the primary deficit, which excludes interest. The cost moves with the Selic policy rate because a large share of federal debt is linked to it.
The figures below use one definition for every country, so they can differ from national figures.
What is Brazil's debt to GDP ratio?
The latest figure from the IMF, for 2025, is 93.3% of GDP. The peak was 96.0% of GDP in 2020 and the low 59.6% of GDP in 2013. It is 5th highest of 31 in Latin America & Caribbean, where the median is 65.6% of GDP. World rank, highest first: 29th of 185.
Does Brazil's government borrow more than it raises?
According to the IMF, general government net lending or borrowing in Brazil was -7.4% of GDP in 2025, which is a deficit. Since 2005 it has ranged from -11.6% of GDP (2020) to -2.4% of GDP (2008). Latin America & Caribbean median: -2.8% of GDP; Brazil is 28th highest of 32. Worldwide: 171st of 188.
How much does Brazil's government take in?
In 2025, general government revenue in Brazil was 39.5% of GDP, according to the IMF. It is the top of the series, which starts in 2005. Across Latin America & Caribbean the middle value was 24.9% of GDP, and Brazil placed 2nd highest of 32. Worldwide: 44th of 187.
What is Brazil's government spending?
According to the IMF, general government spending in Brazil was 46.9% of GDP in 2025. It is the top of the series, which starts in 2005. It is 2nd highest of 32 in Latin America & Caribbean, where the median is 26.7% of GDP. Worldwide: 30th of 186.
What is Brazil's tax to GDP ratio?
In 2024, central government tax revenue in Brazil was 15.4% of GDP, according to the IMF. No year since 2010 has been higher. It is 6th highest of 14 in Latin America & Caribbean, where the median is 15.0% of GDP. World rank, highest first: 59th of 92.
What is Brazil's military budget as a share of GDP?
1.1% of GDP: that is military spending in Brazil for 2025, according to SIPRI. Its high point since 2005 was 2010, at 1.5% of GDP; its low point was 2024, at 1.0% of GDP. Latin America & Caribbean median: 1.0% of GDP; Brazil is 9th highest of 22. Of 149 countries with 2025 data, 105th highest.