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Does "broke" here mean "without money"?
Brazil's President Says Country Is 'Broke'
With state subsidies to fight poverty now ended, Brazil's far-right President Jair Bolsonaro on Tuesday said his country is "broke" and he is unable to do anything about it, attributing the crisis to "the press-fueled" coronavirus.
Source: International Business Times
The article goes on explaining that.
Bolsonaro attributes the country's economic collapse to lockdown measures pushed by state governors to combat the coronavirus pandemic.
His statement that the country went broke (or is broke = without money), which might be a bit exaggerated, means the government can't simultaneously tackle the pandemic and bring in the promised tax reforms. In his opinion, there is not enough money to handle both (or that the pandemic took all the resources, a good part of which might have been allocated towards the new tax regulations).
Your guess is already correct.
However, depending on the subculture (where broke is preferred over bankrupt anyways), the substitution poor af may be the best fit. :)
