Brazil’s Treasury: 2021 year-to-date deficit would be near zero without Covid-19 spending

According to the Treasury, the increase in spending during the pandemic represented a short-term measure, which does not compromise the Brazilian public debt's medium-term sustainability.

RIO DE JANEIRO, BRAZIL - Without the extra spending on tackling the Covid-19 pandemic, the Central Government (Federal Treasury, Social Security and Central Bank) would have a primary deficit of only R$3 billion (US$578 million) in the first 7 months of the year, said yesterday, August 30, Federal Treasury Secretary Jeferson Bittencourt.

The Federal Treasury Secretary announced the estimate when explaining the R$73.432 (US$14.2) billion negative result recorded from January through July this year.

According to the Secretary's assessment, Brazil is showing an effective fiscal improvement and registering progress, which can be expressed . . .

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