Overview

• Brazil’s municipal IFGF averaged 0.6531 in 2024 across 5,129 cities representing 95.6% of the population, the series’ highest reading.
• Revenues were buoyed by larger federal repasses, with the FPM reaching R$177 billion in 2024 and increases in Fundeb and parliamentary amendments.
• Municipal investment hit R$120.2–R$120.3 billion in 2024, averaging 10.2% of revenue; 1,601 cities scored 1.0 on the investment subindex, though 938 invested at a critical level and Firjan flags weak planning and quality controls.
• Fragilities persist: 36% of municipalities are in difficult or critical condition, the Autonomy subindex averaged 0.4403, and 1,282 cities generated too little local revenue to fund the mayor and city council.
• Personnel absorbed 46% of municipal revenue on average in 2024, with 131 cities breaching the LRF’s 60% limit, while liquidity averaged 0.6689 and 413 municipalities ended the year with no cash to cover carried-over bills.