Never before have so many Brazilians been in debt as today

The pandemic has made the wealthy even richer, the poor even poorer, and is enslaving the middle class with debt that is almost impossible to repay. This is not unique to Brazil.

RIO DE JANEIRO, BRAZIL - The economic crisis triggered by the Covid 19 pandemic and its related isolation and containment measures has caused the debt of Brazilian families to reach a new record in July.

According to a survey released Thursday (8/5) by the National Confederation of Commerce in Goods, Services, and Tourism (CNC). The survey shows that 71% of families are currently in debt, the highest since the historical series began in 2010.

This is the third consecutive month in which the percentage has increased. Of delinquent, 10.9% say they are "very indebted" and therefore unable to pay . . .

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