Federal debt keeps climbing under the weight of interest

Federal public debt rose 0.97% to R$9.383 trillion in September, according to Agência Brasil’s coverage of Treasury figures.

Source-based facts

Interest accrual added R$89.29 billion. Selic-linked securities represented 51.6% of the debt stock; the liquidity buffer covered 7.71 months of maturities.

Observer analysis

Our concern is sensitivity to the policy rate: a large floating-rate share means expensive money can continue feeding the debt stock. Investors should resist viewing the state’s interest bill only as their prospective income. Federal public debt is a different measure from gross general-government debt and must not be added to it.

What could reduce the risk

The liquidity buffer provides protection against near-term refinancing pressure. Lower sustainable rates could ease debt-service costs; this release does not demonstrate an immediate funding crisis.

Original source

Agência Brasil · Wellton Máximo
Dívida Pública sobe 0,97% em setembro e encosta em R$ 9,4 trilhões ↗
Published: 29 October 2026 · Data: September 2026