Brazil is aiming for a primary budget surplus of 3.1% of GDP in 2012 as the government tries to put its public accounts back into better shape. Brazil’s economy is expected to grow 5.0% in 2012, compared to a 4.5% growth forecast for this year, according to an outline of the 2012 budget released Friday.
Brazil is in the middle of a monetary tightening cycle, central bank President Alexandre Tombini said on Friday, days before the bank is expected to announce a hike in the benchmark lending rate.
China's top customs authority announced Friday that trade with the other four BRICS nations surged by 45.8% to reach 59.9 billion US dollars in the first quarter of this year.
A Brazilian government report indicates that it will be extremely difficult to get most Brazilian airports ready in time for the 2014 World Cup.
Renovation work in 10 of the 13 airports which will be used during the month-long tournament will not be completed in time unless there are changes in the investment plans made by Brazil's airport authority, Brazil's Economic Research Institute said in its study.
Foxconn in planning to invest as much as 12bn US dollars in Brazil, according to President Dilma Rousseff currently on an official visit to China. Taiwan-based Foxconn operates the majority of its factories in China, producing goods for firms like Apple, Hewlett Packard and Dell.
Beginning June, Mercosur full members will share macro-economic indicators elaborated with the same criteria and which will be released simultaneously, according to reports in the Montevideo press. The initiative was partly financed by the European Union that also played an advisory role.
China and Brazil on Tuesday clinched a host of government agreements and economic deals in Beijing to enhance their strategic partnership as Brazilian President Dilma Rousseff paid her first state visit to China.
China opened its market to Brazilian pork and Brazil’s meat packer Marfrig said it would invest heavily in distribution centres in China. The announcements were made in Beijing where a numerous government and private sector delegation headed by Brazilian president Dilma Rousseff is on an official visit to China.
President Rousseff arrived in Beijing Monday to begin a state visit to China that will incorporate Thursday’s summit of BRIC leaders. However Ms Rousseff’s trip to China is symbolically important since it is her first overseas visit outside Latin America and underlines the growing importance of the Brazil/China relationship, points out Capital Economics.
China plans to invest ten billion US dollars in the production, storage and transport of soybeans in Brazil to ensure the supply of the commodity of which it is the world’s main importer, according to press reports in Beijing.