By Richard Mann, Contributing Reporter
RIO DE JANEIRO, BRAZIL - Even if the Fiscal Recovery Regime (RRF) is renewed until 2023, the debt of the State of Rio de Janeiro with the Union is unpayable unless there is a structural change in the economy of Rio de Janeiro, according to State Secretary for the Treasury Luiz Claudio Rodrigues de Carvalho.
By the end of 2023, gross indebtedness is expected to reach R$ 170 billion, the equivalent to 237 percent of Net Current Revenue (RCL). The ceiling defined by the Fiscal Responsibility Law (LRF) is 200 percent of the RCL and the . . .