AVN 57.19 Increased By ▲ 0.17 (0.3%)
BOP 10.05 Decreased By ▼ -0.08 (-0.79%)
CHCC 128.25 Decreased By ▼ -0.58 (-0.45%)
DCL 9.31 Decreased By ▼ -0.01 (-0.11%)
DGKC 107.45 Decreased By ▼ -0.14 (-0.13%)
EFERT 67.49 Decreased By ▼ -0.01 (-0.01%)
EPCL 32.54 Decreased By ▼ -0.07 (-0.21%)
FCCL 21.14 Increased By ▲ 0.03 (0.14%)
FFL 11.91 Decreased By ▼ -0.06 (-0.5%)
HASCOL 13.58 Increased By ▲ 0.01 (0.07%)
HBL 124.29 Decreased By ▼ -0.37 (-0.3%)
HUBC 81.15 Decreased By ▼ -0.25 (-0.31%)
HUMNL 9.47 Decreased By ▼ -0.13 (-1.35%)
JSCL 15.91 Increased By ▲ 0.06 (0.38%)
KAPCO 24.67 Decreased By ▼ -0.08 (-0.32%)
KEL 3.65 Decreased By ▼ -0.06 (-1.62%)
LOTCHEM 13.15 Decreased By ▼ -0.05 (-0.38%)
MLCF 33.55 Decreased By ▼ -0.10 (-0.3%)
OGDC 114.40 Decreased By ▼ -0.10 (-0.09%)
PAEL 32.61 Decreased By ▼ -0.13 (-0.4%)
PIBTL 11.40 Increased By ▲ 0.06 (0.53%)
PIOC 75.89 Decreased By ▼ -0.21 (-0.28%)
POWER 8.09 Decreased By ▼ -0.03 (-0.37%)
PPL 99.05 Increased By ▲ 0.02 (0.02%)
PSO 183.45 Decreased By ▼ -0.55 (-0.3%)
SNGP 56.20 Decreased By ▼ -0.16 (-0.28%)
STPL 11.32 Increased By ▲ 0.11 (0.98%)
TRG 49.55 Decreased By ▼ -0.21 (-0.42%)
UNITY 12.56 No Change ▼ 0.00 (0%)
WTL 1.01 No Change ▼ 0.00 (0%)
BR100 4,136 Increased By ▲ 72 (1.77%)
BR30 21,159 Increased By ▲ 380 (1.83%)
KSE100 39,872 Increased By ▲ 613 (1.56%)
KSE30 17,320 Increased By ▲ 250 (1.47%)
COVID-19 TOTAL DAILY
CASES 280,029 0
DEATHS 5,984 0
Sindh 121,486 Cases
Punjab 93,197 Cases
Balochistan 11,774 Cases
Islamabad 15,076 Cases
KP 34,223 Cases

BRASILIA: Brazil's national debt rose to a record 85.5% of gross domestic product and the public sector registered a record $36.5 billion primary deficit in June, the central bank said on Friday, as the Covid-19 crisis hammered the government's finances.

The figures were greater than economists had expected, and come after senior Economy Ministry and Treasury officials this week reiterated their commitment to the government's spending cap rule, widely seen as public finances' main pillar.

"We expect the fiscal and public debt picture to deteriorate significantly throughout 2020," said Alberto Ramos, head of Latin American research at Goldman Sachs, projecting a public sector primary deficit of at least 13% of GDP.

"Addressing the unsustainable public debt dynamics and building fiscal buffers remains, unquestionably, the key macro challenge facing both the executive and legislative branches once the pandemic is brought under control," he said.

The public sector deficit excluding interest payments was 188.7 billion reais ($36.5 billion) in June, the central bank said, more than the expected 163.5 billion reais shortfall to bring the deficit in the first half of the year to 402.7 billion reais.

The deficit in the same period last year was just 5.7 billion reais, the central bank said. The accumulated primary deficit in the 12 months through June was equal to 6.38% of gross domestic product. The Economy Ministry on Thursday said it expects a public sector primary deficit of 812.2 billion reais, equal to 11.3% of GDP.