🇧🇷🤡📈💸 — Even without the pandemic, the government of leftist President Luiz Inácio Lula da Silva has a deficit almost as high as during Covid-19

➡️ Brazil's nominal deficit is almost as high as during the most critical period of the Covid-19 pandemic. According to data from the Central Bank, in March, the deficit in the accumulated 12 months reached R$ 998.6 billion. In January 2021, the deficit reached its highest value, reaching R$ 1.016 trillion. The nominal result is the difference between what the Union collects and spends, including the payment of interest on the gross debt.

❌ Despite the 4.5 percentage points increase in public debt during his administration, President Luiz Inácio Lula da Silva (PT) does not want to discuss the issue. Recently, Lula expressed irritation about the criticism he has received for the increase in public debt, saying that this discussion does not happen in any country in the world.

❗️ However, in the countries mentioned by Lula, the United States, Japan, and Italy, interest rates are much lower than in Brazil, which makes the growth of the debt less steep.

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