Economy Minister Paulo Guedes (left) and Senate President Rodrigo Pacheco. Photo: Pedro Gontijo/SF/CC-BY 4.0
Brazil’s gross public debt ended July at 83.8 percent of GDP, down just 0.1 percentage point from the previous month. This was the fifth straight monthly drop in the country’s public debt — which is 5 percentage points below a year ago.
In 2020, Brazil spent the equivalent of 14 percent of its GDP to mitigate the health and economic effects of the coronavirus.
A new study by the Institute for Applied Economic Research (Ipea) shows that the federal government spent BRL 520.6 billion (USD 101 billion) on primary revenues, with BRL 44.0 billion in supplementary funds for public health emergencies, and BRL 78.3 billion in cash handouts.
This year, however, pandemic-related spending has been slashed.
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