The government of Brazil recorded a record budget deficit during the month of May, and said that the official forecasts for public debt and deficits for the current year will be raised to reflect the severe damage to public finances caused by the Coffid crisis -19.
According to Reuters, the Treasury said the government had registered an initial budget deficit, excluding interest payments, amounting to 126.6 billion riyals ($ 23.3 billion) in May. It is a monthly record, and slightly higher than the average of 125.9 billion riyals forecast by economists polled by Reuters.
The Treasury said that the total budget deficit in the first five months of the year amounted to 222.5 billion riyals, compared to a deficit of 17.5 billion riyals in the same period last year. p>
She added that net public debt this year is expected to rise above 65 percent of GDP, while total debt will rise above 95 percent of GDP. >
