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Brazil’s defense budget for 2023 prioritizes shipbuilding

The Brazilian Budget Bill for 2023 provides for a total allocation of R$124.442 billion (US$22.709 billion) for Defense. 

However, what would appear to be a nominal increase of 4.4% in the total budget in relation to the proposal for 2022 (US$21.744 billion) is actually a significant reduction in real terms, of around 6.7%, if we consider the accumulated inflation of 11.89%, measured by the Broad National Consumer Price Index - IPCA, from July 2021 to June 2022. 

That is, there is a decrease of US$1.642 billion in the real value . . .

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