Deficit reaches R$ 169 billion and is expected to exceed target.
After coming to power thanks to an impeachment based on the discourse of President Dilma Rousseff's alleged fiscal irresponsibility, interim president Michel Temer is expected to deliver the largest fiscal deficit in the country's history; with five months left until the end of the year, the deficit is already R$ 169 billion and is very close to the target of R$ 170,5 billion; "The government's budget limits are close to being exceeded, and we still have five months ahead until the end of the year," confided the Minister of the Civil House, Eliseu Padilha; the economic paralysis caused by political sabotage since Dilma's victory in 2014 has reduced tax revenue and weakened public finances.
247 - Built upon the argument of President Dilma Rousseff's "fiscal irresponsibility," the impeachment, or coup of 2016, is costing the country dearly.
Yesterday, in a conversation with governors from the Northeast region, the Chief of Staff confided that the federal government is very close to exceeding its target of a deficit of R$ 170,5 billion, which was increased by R$ 100 billion by interim president Michel Temer.
"The government's budget limits are close to being exceeded, and we still have five months until the end of the year," said Padilha.
In fact, the deficit has already reached R$ 169 billion, and there is a high chance that the target will be exceeded because federal revenue continues to fall due to the economic downturn and rising unemployment.
In practice, the political sabotage imposed on President Dilma since her victory in 2014 has cost the country dearly, further exacerbating the fiscal crisis.