Bitman on Nostr: Brazil's Fiscal Situation Continues to Deteriorate The July data came in much worse ...
Brazil's Fiscal Situation Continues to Deteriorate
The July data came in much worse than estimated.
Primary Deficit (excluding debt interest) of R$ -21.3 billion (estimated R$ -6.9 billion) and nominal deficit (including debt interest) of R$ -101.5 billion (estimated R$ -79.3 billion).
Over the last 12 months, the primary deficit was -2.29% of GDP, and the nominal deficit was -10.02% of GDP.
Net Debt fell to 61.9% of GDP (it would have remained stable compared to June without the privatization adjustments of -0.3 p.p). Gross Debt rose to 78.5% of GDP, and according to the **INTERNATIONAL METHODOLOGY** (including free securities in the Central Bank's portfolio), it rose to 88.82% of GDP.
Even with increased revenue, the fiscal situation continues to deteriorate with no signs of improvement.
The July data came in much worse than estimated.
Primary Deficit (excluding debt interest) of R$ -21.3 billion (estimated R$ -6.9 billion) and nominal deficit (including debt interest) of R$ -101.5 billion (estimated R$ -79.3 billion).
Over the last 12 months, the primary deficit was -2.29% of GDP, and the nominal deficit was -10.02% of GDP.
Net Debt fell to 61.9% of GDP (it would have remained stable compared to June without the privatization adjustments of -0.3 p.p). Gross Debt rose to 78.5% of GDP, and according to the **INTERNATIONAL METHODOLOGY** (including free securities in the Central Bank's portfolio), it rose to 88.82% of GDP.
Even with increased revenue, the fiscal situation continues to deteriorate with no signs of improvement.