The Brazilian government posted a nominal budget deficit of BRL 113 billion in September 2026, widening from BRL 102.2 billion in the same month a year earlier. The federal government recorded a BRL 3.5 billion surplus, while regional governments posted a BRL 5.6 billion deficit and state-owned companies registered a BRL 3.4 billion deficit. Despite the wider budget shortfall, the deficit remained relatively stable as a share of the Brazilian GDP at 9.51%, slightly up from 9.48% in August. Meanwhile, gross government debt remained unchanged at 82.9% of GDP in September, standing at the same level as recorded in October 2021. Over the 12 months to September, the nominal public sector deficit narrowed to 0.52% of GDP from 0.62% in the previous month.