Brazil’s budget deficit increased to 10.3 percent of GDP in 2015 compared to a 6.1 percent gap in 2014 and hitting its highest level on record as the nation is experiencing its worst recession in decades while efforts to rebalance fiscal accounts failed. The overall budget deficit rose to a record 613 billion reais in 2015 and the closely monitored primary budget balance jumped to 111.249 billion reais. The rapid deterioration of the country’s finances has significantly raised the country’s debt burden leading to a gross debt of 66.2 percent of GDP, sharply higher than 57.2 percent in 2014. Government Budget in Brazil averaged -3.83 percent of GDP from 2001 until 2015, reaching an all time high of -2 percent of GDP in 2008 and a record low of -10.30 percent of GDP in 2015. Government Budget in Brazil is reported by the Banco Central do Brasil. Government Budget is an itemized accounting of the payments received by government (taxes and other fees) and the payments made by government (purchases and transfer payments). A budget deficit occurs when an government spends more money than it takes in. The opposite of a budget deficit is a budget surplus. This page provides – Brazil Government Budget – actual values, historical data, forecast, chart, statistics, economic calendar and news.
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