Commentary: Brazil’s 2026 Election Heads Toward A Fiscal Squeeze, Whoever Wins

2026-01-30 - 12:05

Key Points Brazil closed 2025 with a larger underlying deficit, despite record revenues and accounting exclusions. Debt is rising fast under high interest costs, limiting room for new promises in 2026. The next president inherits tighter choices because mandatory spending keeps growing automatically. (Commentary) Brazil’s fiscal debate is drifting toward the 2026 election with a