TCU orders Treasury to project debt using fiscal target lower limit in PLDO

Brazil's Federal Court of Accounts (TCU) ruled that the National Treasury must include a ten-year public debt trajectory based on the lower limit of the fiscal target in future Budget Guidelines Bills (PLDO), citing a misalignment in the 2027 draft. The decision, reported by Minister Antônio Anastasia, adds fiscal transparency pressure but does not alter current policy. It signals potential tightening of fiscal credibility expectations.