Brazil's Central Government Debt (% of GDP), 1990-2022

Brazil's debt-to-GDP ratio demonstrated significant volatility between 1990 and 2022. A sharp rise from 50% in 1990 to 98.41% in 1992 reflects hyperinflation and fiscal challenges. This was followed by a steep decline, reaching 33.39% in 1995 due to inflation control measures under the Real Plan.

Debt began to climb again in the 2000s, peaking at 90.94% in 2020, driven by pandemic-related expenditures. By 2022, the ratio declined to 81.48%, signaling improved fiscal management and a recovering economy, though challenges persist.