RIO DE JANEIRO, BRAZIL - Brazil is on track to breach its spending ceiling by 2% of Gross Domestic Product (GDP) this year, Citi economists warned on Tuesday, predicting that the government will significantly relax its fiscal policy to cope with the Covid-19 pandemic.
This will mainly consist of R$71 (US$13) billion in non-recurring extracted measures, such as emergency cash payments to the population and vaccines, and R$62 billion in aid for states, job protection, and credit programs.
"The Covid-19 situation has escalated considerably, raising pressure for the extension of disease-related fiscal measures. The . . .
To read the full NEWS and much more, Subscribe to our Premium Membership Plan. Already Subscribed? Login Here