Brazil's nominal public sector deficit reached 9.41% of gross domestic product in the twelve months to March 2026, nearly one percentage point higher than the previous period, according to data published on Thursday by the Central Bank. The combined shortfall of all public administrations — central government, states, and municipalities — stood at 1.21 trillion reais, equivalent to around $244 billion, in one of the highest readings in recent years for Latin America's largest economy.