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RIO DE JANEIRO, BRAZIL - The National Treasury reported yesterday, July 30th, in Brasília, that the government's public accounts closed June with a R$194.7 billion (US$39 billion) negative balance.

The record primary deficit of the central government (National Treasury, Social Welfare, and Central Bank), with expenditures higher than revenues but excluding interest expenses, was impacted by the Covid-19 pandemic. In June 2019, the primary deficit stood at R$11.8 billion.

"As in the preceding month, the June deficit is primarily explained by the significant reduction in revenue, coupled with the increase in Executive Branch . . .

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