Brazil and Portugal public debt climbs to near 93% of GDP amid rising costs

Brazil public debt Portugal debt debt‑to‑GDP Selic‑linked bonds fiscal deficit

Brazil’s gross public debt rose to 81.9% of GDP in June 2026, reaching roughly R$ 10.8 trillion, a 10.2‑point increase since the end of 2022. In the same month the debt stock grew 2.61% to R$ 9.27 trillion, driven by strong issuance of Selic‑linked bonds and the incorporation of R$ 85 billion in accrued interest. The average cost of the debt hit 12.68% per year, the highest level since 2016, while Selic‑linked securities made up about 49% of the total portfolio. Brazil’s public‑sector primary deficit stood at R$ 55.3 billion in June, adding to the fiscal pressure.

Portugal’s public debt, measured under the Maastricht criteria, rose to 92.9% of GDP in the second quarter of 2026, up 1.9 percentage points from the previous quarter. The government explained the increase as the result of large deposits from public administrations needed for an amortisation plan, but reaffirmed its forecast that the debt ratio will fall to 87.5% of GDP by the end of 2026.

Entities

Banco Central do Brasil · Banco Central do Brasil (Central Bank of Brazil) · Banco de Portugal · Brazil · Luiz Inácio Lula da Silva · Portugal · Selic · Selic rate · Tesouro Nacional · Tesouro Nacional (Brazil's Treasury) · Tesouro Nacional (Brazilian Treasury)

Claims

What the coverage asserts, and how many sources carry each claim.

[○ 1 SOURCE] The Treasury's debt‑service reserve rose to cover 8.33 months of maturities. mspost.com.br
[○ 1 SOURCE] The nominal deficit of the public sector was R$1.31 trillion in June, equal to 9.99 % of GDP. www.capitalnews.com.br
[○ 1 SOURCE] The consolidated public sector posted a primary deficit of R$55.3 billion in June. www.capitalnews.com.br
[○ 1 SOURCE] If current trends continue, Brazil's debt‑to‑GDP ratio could exceed 100 % between 2032 and 2035. ac24horas.com
[● 3 SOURCES] Interest payments on the debt amounted to R$1.16 trillion over the twelve months to June, representing 8.8 % of GDP. www.capitalnews.com.br · ac24horas.com
[● 4 SOURCES] Brazil's federal debt stock reached R$9.26 trillion in June, equal to 81.9 % of GDP. mspost.com.br · www.tribunapr.com.br
[● 2 SOURCES] The average cost of Brazil's public debt rose to 12.7 % per year, the highest level since 2016. ppnewsfb.com.br · www.tribunapr.com.br
[● 2 SOURCES] The Selic benchmark rate stood at 14.25 % per year in June. mspost.com.br · ac24horas.com
[○ 1 SOURCE] The debt reserve covered 8.33 months of maturities in June 2026. mspost.com.br
[● 2 SOURCES] The debt increased by 2.61% month‑on‑month in June 2026. mspost.com.br · jornalgrandebahia.com.br
[○ 1 SOURCE] Debt‑to‑GDP ratio reached 81.9% in June 2026. ac24horas.com
[○ 1 SOURCE] Average cost of Brazil's public debt rose to 12.68% per year, the highest since 2016. ppnewsfb.com.br