Pension deficit is $68 bn in 2020

The total shortfall of welfare systems in Brazil reached R$368.2 billion ($68 bn) in 2020, equivalent to 5.0%, or almost half of the central government’s primary deficit last year. The bill considers the expenditures of the General Social Welfare Policy (RGPS), of the Civil Servants’ Own Social Welfare Policy (RPPS), as well as the pensions and the inactive expenditures of the Armed Forces.

Source: 6 Minutos

Nubank is valued at $25 bn and becomes the 4th most valuable bank in Latin America

Nubank’s market value already reaches $25 billion. To get an idea of how the digital bank has evolved, just remember that in June 2019 it was valued at $10 billion. As a result, Nubank has become the fourth largest financial institution in Latin America, in market value, behind Itaú Unibanco, Bradesco and Santander Brasil.

Source: Money Times

Unemployment stands at 14.1%, the highest rate for November since 2012

With a record increase in the number of employed people, the unemployment rate in Brazil stood at 14.1% in the quarter ended in November, according to data from the IBGE’s Continuous Pnad. The rate is slightly lower than in the quarter ended in August (14.4%), which serves as a basis for comparison. The IBGE considers, however, that the index has remained stable, as it is a very small variation. There are still 14 million Brazilians looking for a vacancy.

Source: Extra Globo

Central government has a deficit of $138 bn in 2020, the largest in the historical series

With a sharp increase in spending to confront the covid-19 pandemic last year, the shortfall in central government accounts reached R$743.787 billion ($138 bn) in 2020, the largest primary deficit in the historic series of the National Treasury, begun in 1997. The result represents a deficit equivalent to 10.0% of GDP last year.

Source: Isto É

Industrial cost goes up by 8.6%

The Industrial Cost Indicator rose 8.6% in the third quarter of 2020 compared with the previous quarter, pressured by rising input and raw material costs. The figure, released by the National Confederation of Industry (CNI), is the largest increase ever recorded in the historical series that began in 2006. The rise in the index has triggered a warning signal in industry, according to the entity, because the recent series shows the increasing increase in costs related to domestic and imported intermediate goods.

Source: UOL Economia