FX.co ★ Brazil Budget Deficit Widens in September

Brazil’s nominal public sector budget deficit reached BRL 113 billion in September 2026, up from BRL 102.2 billion in the same month a year earlier. The federal government posted a surplus of BRL 3.5 billion, while regional governments recorded a deficit of BRL 5.6 billion and state-owned enterprises registered a deficit of BRL 3.4 billion. Despite the wider shortfall in nominal terms, the deficit remained broadly stable as a share of GDP, at 9.51% compared with 9.48% in August. Gross general government debt was unchanged at 82.9% of GDP in September, the same level last seen in October 2021. Over the 12 months to September, the nominal public sector deficit narrowed to 0.52% of GDP, down from 0.62% in the preceding 12‑month period.