Opposition presidential candidate Marina Silva said that Brazil's recession is very worrying and her government would work to restore the credibility of the country's economic policies to recover investment and growth if elected. The Brazilian economy fell into recession in the first half of the year, a heavy blow for President Dilma Rousseff's already diminishing hopes of winning re-election in October.
Brazil has fallen into recession, further weakening President Dilma Rousseff, just weeks before voting in what will be a tough re-election battle. Brazil's national statistics institute said Friday GDP shrank 0.6% in the second quarter and revised an initially positive first quarter growth estimate down to -0.2 percent.
Two economists with graduate studies in Cambridge and Massachusetts Institute of Technology, a lawyer considered one of the most influential members of Congress and with a PhD from Oxford, plus the heir of a banking empire, the largest in Brazil, and philanthropist, are identified as the closest aides and advisors of Marina Silva, with increasing chances of becoming Brazil's next president in October.
Argentine Economy minister Axel Kicillof left Buenos Aires on Thursday for Brazil, where he will meet with fellow ministers from the country to discuss the current situation of bilateral trade and the automotive industry.
A surging Marina Silva took Brazilian president Dilma Rousseff to task in an election debate Tuesday night when she touted her government's achievements in improving social conditions and defending wages in the midst of global economic crisis.
Brazil's consumer confidence deteriorated sharply in August to its lowest level in more than five years, the think tank FGV said Monday. The consumer confidence index fell to 102.3 from 106.9 in July. The score was the lowest since April 2009, when it was 99.7. In July, the index had risen strongly from April's 103.8.
Brazil's National Port Authority and Waterways has approved 1.73bn dollars in port infrastructure works to be carried out by three local operators: steelmaker CSN, container terminal operator Santos Brazil and US food and agribusiness firm Archer Daniels Midland Company (ADM).
With less than two months to the crucial 5 October presidential election, Brazil's Central Bank continued to battle economic turmoil increasing the credit available for commercial loans in the hope of boosting the country’s stagnant growth figures.
Environmentalist Marina Silva officially has launched a bid for president, upending Brazil's October 5 elections and threatening the ruling Workers' Party's 12-year hold on power. So far a vice-presidential candidate for the Brazilian Socialist Party, Marina accepted the nomination to top the ticket after candidate Eduardo Campos, a former governor and rising political star, was killed in a plane crash last week.
Brazilian President Dilma Rousseff acknowledged many problems and challenges still plague the country's woeful heath system but defended her record on the economy and education on a live 15-minute interview on the Globo television network's nightly news.