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Fri May 1, 2020, 04:45 PM

Brazil national debt jumps to 78.4% of GDP, nears new record

Brazilian public sector debt and deficit figures for March released on Thursday gave a glimpse of the fiscal strain to come from the coronavirus crisis, as the national debt surged toward the highest on record and deficits widened sharply.

The public sector primary deficit in March was the widest in 18 months, the nominal deficit was the fourth largest in two decades, and the national debt posted its biggest month-on-month leap in at least 14 years.

The nominal deficit swelled to 79.7 billion reais in March, the central bank said. According to their historical data, that was the fourth largest in 19 years, only behind three months during the 2015-16 recession.

Gross national debt rose to 5.76 trillion reais, or 78.4% of GDP, driven by increased gross debt issuance, nominal interest rates and the impact of a weaker currency, the central bank said. - Reuters

Not covered in North American news, but the total U.S. Debt approached $25 trillion today, up over $5 trillion since fiscally conservative republicans took the reins of government in 2017.

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Reply Brazil national debt jumps to 78.4% of GDP, nears new record (Original post)
ffr May 1 OP
doc03 May 1 #1

Response to ffr (Original post)

Fri May 1, 2020, 04:52 PM

1. We can't be far behind. nt

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