2 min of reading

0 comments

R$ 9 Trillion: Brazil’s Total Debt Reached Historic Mark in October 2024

Written by Fabio Lucas Carvalho

Published on 29/11/2024 at 19:23

Updated on 29/11/2024 at 19:25

Economy

Foto: reprodução

3 people reacted to this.

The Gross Debt Of Brazil Reached A Historic Mark Of R$ 9 Trillion In October 2024.

The gross debt of Brazil reached a historic mark of R$ 9.032 trillion in October 2024. The increase was 1.16% compared to September and 14.13% in comparison with October 2023. The data was released by the Central Bank on Friday (29) in the “Fiscal Statistics” report.

The amount includes the debts of the federal government, the INSS, and state and municipal governments. In 2024, the debt stock grew R$ 952.6 billion. Since the beginning of Lula’s government in January 2023, the increase has already reached R$ 1.8 trillion.

Historical Growth Of The Debt

The historical series of the General Government Gross Debt (GGGD) started in 2006. Since then, each administration has contributed to the increase of the amount:

ARTICLE CONTINUES BELOW

Interest Spending Increases 80%

The nominal interest on the debt totaled R$ 111.6 billion in October 2024, a jump of 80.3% compared to R$ 61.9 billion in the same month of 2023. The high Selic rate has been a determining factor for increasing financing costs.

<p Consequently, the nominal deficit of the consolidated public sector, which includes interest, was R$ 74.1 billion in October. In the last 12 months, spending on interest reached R$ 869.3 billion, contributing to a cumulative nominal deficit of R$ 1.093 trillion, equivalent to 9.52% of GDP.

The escalation of indebtedness and high-interest costs reinforce the need for adjustments in public accounts to ensure long-term fiscal sustainability.

R$ 9 Trillion: Brazil’s Total Debt Reached Historic Mark in October 2024

The Gross Debt Of Brazil Reached A Historic Mark Of R$ 9 Trillion In October 2024.

Historical Growth Of The Debt

Interest Spending Increases 80%

A giant printer called the “Ferrari” of concrete has landed in Latin America and can already build a 120-square-meter house in just 48 hours, making the traditional construction site look like something from the last century.

Great Atlantic Sargassum Belt has ceased to be a climatic phenomenon and has become a biological system that feeds on itself, with 8,000 kilometers in length, 37 million tons of algae, and scientists confirm that it is now permanent.

A British company has installed in the middle of the ocean the world’s first floating platform that generates electricity 24 hours a day from the temperature difference between the surface and the depths of the Atlantic, without relying on wind or sun.

China is building an artificial island in the middle of the sea, covering 20 km², to construct the largest offshore airport in the world, the Dalian Jinzhouwan. This $4.3 billion project is anchored on more than 3,000 pillars embedded in the rock beneath the ocean and is scheduled to open in 2035.

Brazil will harvest a record crop of up to 357 million tons of grains, but it does not have the capacity to store a large part of it. The storage deficit has reached the highest level in history and is equivalent to almost the entire production of Argentina.

Engineers had to pour concrete mixed with tons of ice throughout entire nights in the Dubai desert to erect the Burj Khalifa; any carelessness could clog the pipes half a mile high.

The James Webb telescope spotted a planet 700 light-years from Earth with mornings full of sand clouds and nights with clear skies, the temperature difference between the two hemispheres reaches an impressive 170 degrees.

On the coast of Guyana, neighboring Brazil, ExxonMobil has begun drilling oil wells with an automated system that practically removes human hands from controlling the drill.

Santa Catarina invests R$ 1 billion against the risk of El Niño, accelerates work on dams, cleans rivers, delivers 641 bridges and 126 water trucks, and prepares 295 municipalities for heavy rains, floods, and landslides still in 2026.

Find out which are the 5 busiest bus stations in Brazil and what they offer to travelers.

He looks alien, and it’s on purpose: the Helios abandons the legs of common humanoid robots and gains four arms to move, anchor, and operate in zero gravity, with the promise of eventually even helping with the maintenance of satellites and structures in orbit.

R$ 9 Trillion: Brazil’s Total Debt Reached Historic Mark in October 2024

The Gross Debt Of Brazil Reached A Historic Mark Of R$ 9 Trillion In October 2024.

Historical Growth Of The Debt

Interest Spending Increases 80%

A giant printer called the “Ferrari” of concrete has landed in Latin America and can already build a 120-square-meter house in just 48 hours, making the traditional construction site look like something from the last century.

Great Atlantic Sargassum Belt has ceased to be a climatic phenomenon and has become a biological system that feeds on itself, with 8,000 kilometers in length, 37 million tons of algae, and scientists confirm that it is now permanent.

A British company has installed in the middle of the ocean the world’s first floating platform that generates electricity 24 hours a day from the temperature difference between the surface and the depths of the Atlantic, without relying on wind or sun.

China is building an artificial island in the middle of the sea, covering 20 km², to construct the largest offshore airport in the world, the Dalian Jinzhouwan. This $4.3 billion project is anchored on more than 3,000 pillars embedded in the rock beneath the ocean and is scheduled to open in 2035.

Brazil will harvest a record crop of up to 357 million tons of grains, but it does not have the capacity to store a large part of it. The storage deficit has reached the highest level in history and is equivalent to almost the entire production of Argentina.

Engineers had to pour concrete mixed with tons of ice throughout entire nights in the Dubai desert to erect the Burj Khalifa; any carelessness could clog the pipes half a mile high.

The James Webb telescope spotted a planet 700 light-years from Earth with mornings full of sand clouds and nights with clear skies, the temperature difference between the two hemispheres reaches an impressive 170 degrees.

On the coast of Guyana, neighboring Brazil, ExxonMobil has begun drilling oil wells with an automated system that practically removes human hands from controlling the drill.

Brazilians create cashierless mini-market in the USA, use AI to define products and prices, raise R$ 10 million, and achieve financial balance in the first month before planning nine more units in Miami by the end of 2026.

BNDES opens billion-dollar credit of up to R$ 50 million per client for the purchase of trucks, buses, and equipment and promises to accelerate the renewal of the heavy fleet on Brazilian roads.

PCC and Comando Vermelho enter the U.S. terrorism list and the Brazilian market is already trying to understand where this might hit first.

The military’s preschool assistance receives an 8.6% adjustment and now has a new value throughout Brazil, expanding financial support to Armed Forces families at a time of rising educational costs.

On the coast of Guyana, neighboring Brazil, ExxonMobil has begun drilling oil wells with an automated system that practically removes human hands from controlling the drill.

Santa Catarina invests R$ 1 billion against the risk of El Niño, accelerates work on dams, cleans rivers, delivers 641 bridges and 126 water trucks, and prepares 295 municipalities for heavy rains, floods, and landslides still in 2026.

Find out which are the 5 busiest bus stations in Brazil and what they offer to travelers.

He looks alien, and it’s on purpose: the Helios abandons the legs of common humanoid robots and gains four arms to move, anchor, and operate in zero gravity, with the promise of eventually even helping with the maintenance of satellites and structures in orbit.