Brazilians have problems with money – level 2
05-10-2026 15:00
Brazil is preparing for a big election, but the country is dealing with serious debt problems. More than 80% of families owe money because of credit cards with very high interest rates.
New phone apps, instant payment systems, and online gambling make it easier for people to borrow money and get into financial trouble. Many small businesses and farmers are also unable to pay back their bank loans. At the same time, the Brazilian government has huge debts and spends a lot of money on pensions and social programs to help poor people.
President Lula wants to keep spending money to support families, while his main rival Flávio Bolsonaro promises to cut government spending. Economists warn that these heavy debts could cause the country’s economy to slow down soon.
Difficult words: debt (an amount of money that you borrow and must pay back), instant (happening immediately), loan (money that a bank or person lends you, which you must return later).
You can watch the original video in the Level 3 section.
What do economists warn these heavy debts could cause in the country’s economy?
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