Fiscal Balance in Brazil
Over the last decade, Brazil's fiscal deficit remained much larger as a share of GDP than the global average, driven by political instability and economic challenges. High spending levels and structural issues, including pension liabilities, contributed to the deficit's growth. Efforts to implement austerity measures faced political resistance. The COVID-19 pandemic further exacerbated the fiscal situation, leading to increased government spending and a wider deficit.
In the year 2024, the fiscal balance in Brazil was -8.50%, compared to -5.95% in 2014 and -8.84% in 2023. It averaged -7.75% over the last decade. For more fiscal balance information, visit our dedicated page.
Brazil Fiscal Balance Chart
Note: This chart displays Fiscal Balance (% of GDP) for Brazil from 2014 to 2023.
Source: Macrobond.
Brazil Fiscal Balance Data
| 2020 | 2021 | 2022 | 2023 | 2024 | |
|---|---|---|---|---|---|
| Fiscal Balance (% of GDP) | -13.3 | -4.3 | -4.6 | -8.8 | -8.5 |
How should you choose a forecaster if some are too optimistic while others are too pessimistic? FocusEconomics collects Brazilian fiscal balance projections for the next ten years from a panel of 27 analysts at the leading national, regional and global forecast institutions. These projections are then validated by our in-house team of economists and data analysts and averaged to provide one Consensus Forecast you can rely on for each indicator. By averaging all forecasts, upside and downside forecasting errors tend to cancel each other out, leading to the most reliable fiscal balance forecast available for Brazilian fiscal balance.
Download one of our sample reports to visualize what a Consensus Forecast is and see our Brazilian fiscal balance projections.
Want to get access to the full dataset of Brazilian fiscal balance forecasts? Send an email to info@focus-economics.com.