The amount owed by companies to the states is equivalent to 13.2% of the Brazilian GDP
247, with BBC News Brasil – Corporate debt in Brazilian states totaled R$896.2 billion in 2019, according to an unprecedented study by Fenafisco (National Federation of State and Provincial Taxation), a union representing public tax officials.
Between 2015 and 2019, this amount of debt grew 31.4%. The amount owed by companies to states is equivalent to 13.2% of Brazil’s gross domestic product (GDP), according to the survey.
See the list of the ten largest debtors of the Brazilian states:
- Manguinhos Oil Refinery (7.7 billion Rls)
- Ambif (6.3 billion Brazilian reais)
- Telefônica – Vivo (4.9 billion BRL)
- Sagra Pharmaceutical Products (4.1 billion Rls)
- Shelf life of commercial medicines (RMB 3.9 billion)
- Tim Cellular (3.5 billion BRL)
- Serpa Cervajaria Paraías (3.3 billion BRL)
- Companhia Brasileira de Distribuição (3.1 billion BRL)
- Atos Pharma Sudist (2.9 billion Rls)
- Vale (R$ 2.8 billion)
Read the full text in English BBC News Brazil.