BRASILIA (Reuters) – Brazil’s national indebtedness will soar to record levels this year due to the coronavirus crisis, with gross national debt reaching 93.5% of gross domestic product and net debt hitting 67.6% of GDP, the Economy Ministry said on Friday.
In a presentation released late on Friday, the ministry also said the central government’s primary deficit could widen to 675.7 billion reais ($121 billion), or 9.4% of GDP, once emergency measures not yet formally approved are factored in.
This would also see the broad public sector deficit widening to 708.7 billion reais, or 9.9% of GDP.
Brazil debt to hit record 93.5% of GDP this year: Economy Ministry
Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.