Data released by the Central Bank on Friday morning (29th) showed that the government’s gross debt stood at R$7.098 trillion at the end of the month, equivalent to 78.2% of gross domestic product (GDP).
The average in Latin America at the end of 2021 was 72.04%.
The percentage published by the Central Bank is lower than the 78.9% in April. A year ago debt stood at 84%, and at the end of 2020, it was close to 90%
However, the equally important foreign debt figures showing how dependent a nation is on foreign goodwill.
With only 11% foreign debt in 2020 (latest available figures), Brazil is in an enviable situation, whether in Latin America or globally.