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Brazil's economy expected to contract 1% as challenges remain unaddressed, says IMF report

Wednesday, April 15th 2015 - 07:46 UTC
Full article 11 comments

The International Monetary Fund expects Brazil's economy to contract by one percent this year, it said Tuesday, slashing its previous forecast of 0.3% growth. The world's seventh-largest economy is being hit by inflation, private-sector doldrums and a massive corruption scandal at state oil giant Petrobras, the IMF said in its latest forecast. Read full article


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  • ilsen

    But hasn't Rousseff declared Petrobras to be 'clean' now? Seems the fall out continues. ..

    Apr 15th, 2015 - 08:03 am - Link - Report abuse 0
  • Chicureo

    From the press: “RIO DE JANEIRO – The Brazilian military is ignoring calls by government opponents for an army “intervention” against the government of President Dilma Rousseff, the country’s defense minister said Tuesday.”

    There was a similar headline in Chile in early 1973...

    Apr 15th, 2015 - 09:41 am - Link - Report abuse 0
  • Skip

    “Like fellow emerging economies China, India and South Africa, Brazil needs to implement reforms in education, labor and product markets to raise competitiveness and productivity, the IMF said.”

    What I have been saying for years!

    Interesting that the IMF singles out the BRICS no that their very short fairy tale has ended.

    Apr 15th, 2015 - 11:27 am - Link - Report abuse 0
  • yankeeboy

    They keep revising the economic numbers down. That's not going to change. You can't run a country successfully when you have so many slum dwellers. That's won't change in any of our lifetimes.
    You also can't run a country when you major city is out of water and having long extended blackouts because most of your electricity comes from hydro.
    They've got decades worth of infrastructure problems.
    This is just the beginning.

    Remember me saying I bet there's a lot of people remembering fondly the days of Military rule?? V, A, B I'm looking at you.
    Yeah you heard it here first.

    Apr 15th, 2015 - 12:41 pm - Link - Report abuse 0
  • Brasileiro

    Then Brazil started well. In February the economic activity index increased 0.36% according to the Central Bank.
    If so continue the Apocalypse prophets will be completely demoralized.

    And so few working days in February ...

    Apr 15th, 2015 - 02:28 pm - Link - Report abuse 0
  • Chicureo

    “Brazil is the country of the future… and always will be...”
    “Brazil is not a serious country...”
    Charles de Gaulle
    As long as the Workers Party continues to run Brazil ...

    Apr 15th, 2015 - 06:28 pm - Link - Report abuse 0
  • Jack Bauer

    @5 brASSHOLE
    Sure, your predictions will all come the end of 2015.....
    Brazil's GDP will have increased 5% in comparison to 2014;
    The USD will be down to R$ 2.50,
    Exports will have surpassed the USD 300 billion mark,
    Unemployment will be non-existent, no-one will need to receive the “bolsa família” anymore..
    The price of energy will be reduced as all the reservoirs and rivers will be overflowing, and hydroelectric power will be in full swing - thanks to Dilma ;
    The price of gasoline will be down at R$ 1.00 per litre ;
    Petrobrás will be worth (market value) USD 500 billion, and will be pumping 3 million barrels of oil per day from the sub-salt reserves ; Of course, after PB was 'cleaned up'...
    The 'operation Car-Wash' (lava -jato) will have ended, and we will all be confident that the PT did not steal USD 200 million from Petrobrás ;
    Vaccari Neto is as innocent as a newborn baby ;
    Dilma will end the year with her approval rating at 100% ;
    We'll discover that Lulla never wanted to turn Brazil into a giant Cuba, that he didn't steal USD 2 billion :
    There will be hospitals and doctors for everyone, every child will have access to top-notch education :
    Brazil's infrastructure will have no more bottlenecks ;
    Street crime will be down to the lowest levels in a century, all the MST thugs will have their piece of land ; there will be an abundant supply of popular housing.....your friends from the MTST will no longer need to invade private property....
    The Olympic Games infrastrucure (Rio 2016) will be ready;
    All the PAC1 , and PAC2 projects will be up and running, benefiting the Brazilian population :
    Congress will have voted to reduce their salaries and to eliminate all their 'benefits', there'll be only 16 Ministries...etc...
    But the best part, is that you and your petista friends will be emigrating to Venezuela, to clean lavatories in the socialist paradise, for 300 bolivares per month. Good riddance brasshole & Cia.

    Apr 15th, 2015 - 10:41 pm - Link - Report abuse 0
  • Skip

    “Then Brazil started well. In February the economic activity index increased 0.36% according to the Central Bank.”

    The economic activity index is NOT GDP!

    It is a gauge of activity in the farming, industrial and services sectors, has proven to be an imperfect barometer of gross domestic product data compiled by statistics agency IBGE, which is considered the official measure of economic growth.

    So Brasileiro you can crow about your 0.36% increase in February all you want.

    It doesn't mean that the economy will grow.

    Try to get educated and at least understand the statistics your country publishes.

    Apr 15th, 2015 - 11:47 pm - Link - Report abuse 0
  • ilsen

    Much as I appreciate the well-informed comments above, I fear they are some-what above Brasiliero might grasp. We all know the source of his 'information'....

    The facts, are sadly familiar, the corrupt 'Socialists of the People' have taken their 'cut', run out of spending 'other people's money' and are now exposed.
    Sadly, a familiar story.

    Apr 16th, 2015 - 01:13 am - Link - Report abuse 0
  • Really?

    Why do the commentators on Brazilian stories appearing on Mercopress always sound like lousy American impersonators with Brazilian accents? Why do the comments feel like they have been penned by the same hand? Why do the comments feel like planted hacks from the right banging away at the same trite, short-selling, cynical discourse?

    Apr 17th, 2015 - 04:37 am - Link - Report abuse 0
  • Jack Bauer

    @10 Really ?
    And your comments contribute with what ?? are you even Brazilian, or are you one of those that lived here for 3 months and think you know what's going on in the Brazilian Wonderland ??

    Apr 24th, 2015 - 10:46 pm - Link - Report abuse 0

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