According to the Financial Times, Brazil, on the eve of Rio's hosting of the 2016 Olympic Games, is experiencing the biggest budget deficit among emerging economies save for Saudia Arabia, which combined with its mounting debt and anemic GDP, is contributing to the slide of its currency -- the real -- against the dollar. While not good for Brazilians, the dollar is stronger today at 3.4 BRL (Brazilian real) than it was two years ago during the 2014 FIFA World Cup at 2.2 BRL. To put it another way, students will be able to buy 65% more in souvenirs this summer on the same budget as in 2014.
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