Brazilian Public Accounts to Close 2020 Year with R$828.6 Billion Deficit

According to Economy Ministry projections, in 2021 the primary deficit should reach 2.3 percent of GDP. In 2022, the projected negative result is 1.5 percent of GDP, reaching one percent in 2023, 0.5 percent in 2024, and zero percent in 2025.

RIO DE JANEIRO, BRAZIL - The public accounts should close this year with a deficit of R$828.6 billion. The figure corresponds to 12 percent of everything the country produces - the Gross Domestic Product (GDP). The projection was released yesterday by the Ministry of Economy. The result is worse than previously projected - a deficit of 9.9 percent of GDP.

According to the Ministry's projections, in 2021 the primary deficit (revenues minus expenses, excluding interest expenses) should reach 2.3 percent of GDP. In 2022, the projected negative result is 1.5 percent of GDP, reaching one percent in . . .

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