Monday, August 31st 2015 - 07:22 UTC

Lacking congressional support Rousseff discards reinstating financial transactions tax

Sao Paulo newspapers said Rousseff abandoned the proposal because it realized there was no time to win its approval in Congress

President Dilma Rousseff has dropped the idea of reinstating a tax on financial transactions to bridge a gaping fiscal deficit in Brazil after it ran into a barrage of criticism even from within her coalition, Brazilian media reported on Sunday.

Sunday, August 30th 2015 - 13:58 UTC

Brazil in recession: worst slowdown in nearly three decades

A commodities-fueled economic boom has fizzled since Rousseff took office in 2011, and her stimulus efforts drove up debt without spurring growth

Brazil's economy shrank 1.9% in the second quarter, sinking into a recession that has hammered President Dilma Rousseff's popularity. The quarterly contraction, reported by government statistics agency IBGE on Friday, was bigger than what markets expected and confirms the worst slowdown for Brazil in nearly three decades.

Sunday, August 30th 2015 - 13:44 UTC

Brazil wants to revive financial transaction tax to increase revenue

“We're in a deep economic crisis and any move in that direction would make the crisis worse,” said Senator Calheiros, speaker of the House.

The Brazilian government is considering reviving a financial transaction tax known as CPMF in a bid to shore up its finances in 2016, but the initiative apparently does not have sufficient support in Congress and President Dilma Rousseff's main coalition ally, PMDB, is not willing to make the presentation.

Saturday, August 29th 2015 - 05:36 UTC

Brazilian Senate confirms Petrobras investigation case Prosecutor

The Senate voted in favor of Janot's reappointment 59-12 after lawmakers questioned him for more than 10 hours about the investigation

Brazil's Senate confirmed the reappointment of Prosecutor General Rodrigo Janot, who is leading a massive corruption investigation that has put dozens of politicians under scrutiny for allegedly receiving kickbacks.

Saturday, August 29th 2015 - 05:25 UTC

'If necessary', Lula da Silva will be in the 2018 president election

“If the opposition thinks it's going to win, that it will be no contest and that the PT is finished, you can be sure of the following: I'll be in the race”

Former two-term President Lula da Silva acknowledged Friday that he is weighing the possibility of seeking to return to Brazil's highest office in the 2018 elections. ”I can't say that I am or that I'm not (a candidate),” Lula said during an interview with Radio Itatiaia.

Friday, August 28th 2015 - 07:22 UTC

Brazil/EU summit next year following exchange of proposals with Mercosur

Brazil and the EU agreed it would be better that the bilateral summit be held after the exchange of proposals, said EU representative Joao Gomes Cravinho.

Brazil and the European Union agreed to hold their annual summit during the first half of 2016, following the exchange of proposals for a wide ranging and cooperation trade agreement between the EU and Mercosur.

Friday, August 28th 2015 - 05:32 UTC

Lula da Silva seems to have lost his invincible electoral allure, opinion polls show

In the event of a presidential dispute, Lula da Silva would be beaten by Aecio Neves in the runoff by 50% to 31%.

Former Brazilian president Lula da Silva, if he decided to run again in 2018 as his Workers Party insists, would lose the presidential contest against any of three potential candidates from the leading opposition party, PSDB, (Brazilian Social Democracy) according to a public opinion poll released this week.

Thursday, August 27th 2015 - 04:41 UTC

Dilma has an extra 12 days to show 'non-doctored' government accounts

TCU alleges Rousseff delayed 40 billion Reais in social payments to artificially bolster fiscal accounts

Brazil's highest accounting court gave another 15 days for President Dilma Rousseff to respond to accusations she doctored the government accounts last year to hide the deterioration of the country's finances.

Thursday, August 27th 2015 - 04:35 UTC

Brazil unemployment climbs to 8.3% in 2Q; auto industry starting layoffs

The ranks of the jobless expanded to 8.4 million people during April-June, while  the number of people with jobs held steady at 92.2 million, IBGE said.

Brazil’s unemployment rate rose to 8.3% in the second quarter, according to a release from the Brazilian Institute for Geography and Statistics, IBGE. The ranks of the jobless expanded to 8.4 million people during the April-June period.

Wednesday, August 26th 2015 - 06:46 UTC

Brazil economy to contract 2.06% and 0.24% next year, says Central bank survey

GDP estimates come from the Boletin Focus, a weekly Central Bank survey of analysts from about 100 private financial institutions on the state of the economy

Analysts expect Brazil's economy to contract by 2.06% this year, with the inflation rate coming in at 9.29%, the Central Bank said Monday. GDP estimates come from the Boletin Focus, a weekly Central Bank survey of analysts from about 100 private financial institutions on the state of the national economy.


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