One test site COVID-19 in Brazil. (Photo: THX / TTXVN) On April 23, credit rating agency Moody’s warned that the Brazilian government’s failure to impose ceiling regulations on public spending on support for people and businesses affected by the COVID-19 pandemic would Negatively affect the credit profile of this country. Moody’s Vice President Samar Maziad said that the credit rating agency kept its assessment of Brazil’s solvency at “Ba2” with a stable outlook. However, Mr. Maziad said that the Brazilian government’s view of the pandemic as an exception in order not to apply regulations on the public spending ceiling, will adversely affect the credit rating of the country’s ability to pay debts . In addition, Moody’s Vice President Samar Maziad also highlighted the expectation that the Brazilian authorities will maintain their previous commitment on the issue. consolidate fiscal year in the coming years. In 2020, the budget deficit of Brazil has reached the equivalent of 14% of Gross Domestic Product (GDP), making the public debt of Latin America’s largest economy a record 90% of GDP. The poor fiscal situation in the past year was due to the fact that the government had to increase public spending in order to reduce the economic impact of the COVID-19 epidemic on citizens and businesses. On April 7, in the context of a strong outbreak of COVID-19 across the country, the Brazilian government had to resume an emergency assistance program for the poor to overcome the effects of pandemic COVID-19 with a budget of about 8 billion USD./.