π§π· A Trillion Dollar Budget
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Government Spending π°
Yesterday, Brazilian Vice President Geraldo Alckmin posted a chart on Instagram showing the performance of Brazilβs primary stock market, Ibovespa, which has hit a historic high of 137.3K points. The post raised some eyebrowsβand no, not just because he posted a non-Latinometrics chart.
βNow post it in dollars!β one reply joked, alluding to the Brazilian real being one of the worldβs worst-performing major currencies this year. The real has steadily shed about 15% of its value since January.
Now, neither the Bolsaβs historic record nor the realβs underperformance can be laid merely at the feet of Alckmin or his rival-turned-boss, President Luiz InΓ‘cio Lula da Silva.
But there has been some investor skepticism this year. A big part of that is due to Brazilβs fiscal deficit, which hovers around 10% of gross domestic product (GDP).

How does Brazil's govt. make and spend $1 Trillion?
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