Brazil's National Debt Rises to Record High 79.8% of GDP in August 2019

Brazil’s general government debt, incorporating central government, states, municipalities and social security rose to 79.8 percent in August from 79.0 percent of GDP in July 2019. This was highest national debt in August since 2006, driven by combination of interest payments, higher borrowing and weaker exchange rate.The net public sector debt fell to 54.84 percent of GDP in August from 55.78 percent in July 2019

The general government’s primary deficit narrowed to R$13.45 billion in August 2019 as compared to the deficit of R$16.9 billion in August 2018. The Central Government registered a fiscal deficit of R$16.5 billion, while regional governments and state-owned enterprises registered surpluses of R$2.7 billion and R$355 million, respectively in August 2019.