A key gauge of Brazil’s public finances, the primary fiscal deficit, ballooned in November to one of the worst levels since records began. In a stark illustration of the challenges facing the country’s new finance minister, Nelson Barbosa, the government’s primary fiscal deficit — the budget balance before interest payments — during the month rose to R$19.6bn, the central bank said. This brought the 12-month primary fiscal deficit as of November to 0.89 percent of gross domestic product compared with 0.7 percent a month earlier. With the addition of interest payments, the level was 9.3 percent. The November figure, which is contributing to a rise in gross public debt, was the third highest since records began, according to Reuters data, and comes as President Dilma Rousseff`s ruling Workers` Party, or PT, is lobbying to relax an austerity programme. “Fiscal results continue to worsen because of falling revenues and rising mandatory expenditures, a trend that will likely continue next year,” said Itaú Unibanco in a research note. Brazil is facing a growing fiscal crunch as the end of an economic boom fuelled by high commodity prices and credit growth leads to falls in investment and tax revenues.