Brazil reports worst primary deficit results in 20 years

Brazil's central government registered the worst primary deficit figures in 20 years in the first five months of 2016, the country's Treasury Secretariat announced on Tuesday.

According to the secretariat, the country had a primary deficit of 23.77 billion reals (7.2 billion U.S. dollars) from January to May 2016.

Governmental net income amounted to 456.23 billion reals (138.25 billion dollars) from January to May, up 3.1 percent from the same period last year. However, expenditures rose 11.3 percent to 480 billion reals (145.45 billion dollars) in the period.

Moreover, the interim Brazilian government has sent to Congress a bill to allow a primary deficit of 170.5 billion reals (51.67 billion dollars) this year. Endi