Brazil’s Gross Debt to Reach 94 Percent of GDP in 2020

RIO DE JANEIRO, BRAZIL – The Secretary of the National Treasury, Mansueto Almeida, said on a live broadcast on Monday, June 1st, that the country’s gross debt should reach 94 percent of its Gross Domestic Product (GDP) this year because of measures to mitigate the impact of the coronavirus, but that it should drop again with fiscal adjustment measures and reforms to be restarted in 2021.

“What matters to investors is to know that they are going to earn money up ahead and that at some point the debt will start to drop,” he said during a broadcast on the Focus.Jor website.

According to the Secretary, with the measures to tackle the economic impact of the pandemic and the increase in health spending, this year’s primary deficit should reach R$708.7 billion, representing 9.9 percent of GDP.

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