A35
CHAPTER 32 – PUBLIC SECTOR BORROWING AND PUBLIC
SECTOR DEBT
Question Remarks
GREECE, BRAZIL AND NIGERIA'S FISCAL DEFICITS
EXTRACT A: BRAZIL NEEDS FISCAL REFORM
Brazil is struggling to recover from the worst recession in its
modern history. Real incomes per head were down 9 per cent
between 2013 and 2016. Brazil
has a huge structural fiscal deficit: the IMF thinks it will reach 11
per cent of GDP by 2022. Revenue is already close to 30 per cent
of GDR This should rise with the recovery, but not enough to
close the deficit
and bring the rise in national debt under control, since
CHAPTER 32 – PUBLIC SECTOR BORROWING AND PUBLIC
SECTOR DEBT
Question Remarks
GREECE, BRAZIL AND NIGERIA'S FISCAL DEFICITS
EXTRACT A: BRAZIL NEEDS FISCAL REFORM
Brazil is struggling to recover from the worst recession in its
modern history. Real incomes per head were down 9 per cent
between 2013 and 2016. Brazil
has a huge structural fiscal deficit: the IMF thinks it will reach 11
per cent of GDP by 2022. Revenue is already close to 30 per cent
of GDR This should rise with the recovery, but not enough to
close the deficit
and bring the rise in national debt under control, since
