Brazil can live with record debt, deficits despite the noise
(World News Brazil)

BRASILIA — Brazil is amassing a record debt that has evoked memories of crises past in South America’s largest economy, but some economists say rock-bottom interest rates and low foreign debt mean the government can continue to spend its way out of recession. The debate in Brazil about getting the public finances in order is cranking up, with a key government fiscal rule looking set to be broken. Brazil is on course to post a record 800 billion reais ($115 billion) budget deficit this year due to crisis-fighting expenditure, swelling the national debt to a high of around 95% of gross domestic product – an exceptional level for an emerging market economy. Barring a dramatic...