RIO DE JANEIRO, BRAZIL - Total interest paid was R$233.5 (US$43) billion in the period. In comparative terms, the amount is equivalent to 73% of the resources injected through emergency aid last year.
The trade association's economic advisor Altamiro Carvalho said yesterday that after rent, spending on interest is the second largest item among Brazilians' expenses. "Interest is spread in spending in such a way that people are unaware of the volume this represents in the domestic budget," he said.
Spending on interest surpasses the total costs of education, services, and clothing per year, for instance.
The . . .
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