RIO DE JANEIRO, BRAZIL - Latin America's largest economy tightened its belt in 2021 in an effort to mitigate the fiscal crisis it is experiencing, after massive expenditures in 2020 due to the coronavirus pandemic, which this year is again accelerating due to the Omicron variant.
The sharp 9.2 point reduction in the nominal public deficit, which includes debt interest payments, was driven by the good performance of the consolidated public sector, which includes the federal, regional and municipal governments, and a number of state-owned companies.
In this context, the consolidated public sector accounts recorded a surplus of . . .
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