With the end of the emergency salary scheme at the turn of the year and the coronavirus-led job crisis, the debt levels of Brazil’s poorest populations have hit new records. In April, 22.3 percent of those with a monthly income of BRL 2,100 (USD 384) or less were in debt — according to think tank Fundação Getulio Vargas.
That rate ties the record established in July 2016, when Brazil faced its worst economic crisis in history until that point — and a political deadlock that would lead to the impeachment of then-President Dilma Rousseff.
While indebtedness rose in all segments of Brazilian society, the trend was much harsher on the poor — who live from paycheck to paycheck and are unlikely to be able to save money.
For almost half of those in the lower income bracket, debt came as a result of a family member losing his/her job. For almost 38 percent of them, it takes an average of three months to pay off what they owe.
Meanwhile, less than 4 percent of people in the upper-income bracket are in debt.
Brazil officially had 5.83 million domestic workers in 2022 — almost the entire population of…
Brazil’s Ministry of Health this month announced a purchase of 12.5 million doses of Moderna’s…
In a report to the Federal Police, Brazil's Federal Comptroller General’s Office (CGU) denounced irregularities…
Brazil's Justice Ministry reiterated its support for a decision to recreate the Special Commission on…
In its final episode, our special miniseries on the Brazilian military revisits how the country…
Welcome to our Tech Roundup, where we bring you the biggest stories in technology and…