A slump in commodity markets will burden the global economy for some time to come, Brazilian President Dilma Rousseff told Germany's Handelsblatt business daily, adding she hoped the Brazilian economy would pick up in a year.
Fears that growth in China, which carried the global economy following the 2008 financial crisis, is slowing over the long term are affecting riskier assets around the world, with commodities and emerging markets among the hardest hit.
The process of falling commodity prices due to the adjustment in China will continue to burden the global economy for a long time, Rousseff told Handelsblatt.
The current crises in emerging economies will have their effects on the global economy, she added.
Turning to Brazil, where Rousseff is trying to reduce a gaping fiscal deficit and restore confidence in her government's accounts, she said her country was facing massive economic difficulties.
Rousseff expected a recession in Brazil for the next six to 12 months and hoped signs of an improvement would then take hold.
Foreign and local companies alike have complained for decades about the difficulty of doing business in Brazil, which tends to combine miles of red tape with slow-moving bureaucratic agencies.
Rousseff said the country was working on a rule that would grant automatic approval for applications that are not decided upon within a certain timeframe. The rule would be a potential boon for companies looking to build factories or infrastructure projects, which often face numerous delays for permits and other approvals.
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Ah! The problems are all the fault of the 'Global Economy'Aug 21st, 2015 - 01:21 pm 0
Nothing at all to do with The Chief Crook Lula and DumbAss herself and their political part bleeding Petrobras dry and beggaring independent contractors.
When will she ever tell the truth?
@1 ChrisRAug 21st, 2015 - 05:08 pm 0
To answer your question, never....
She has quite a bit in common with the Cipras the Greek. She lied like hell to get elected, kidded the gullible portion of the population that her measures would solve the problem, once elected the lies were exposed, and fucked up big time, driving the country further down the toilet....Now all she has to do, is resign.
Just take her out and string her up. Surely there must be lamp posts, butchers' hooks and piano wire.Aug 22nd, 2015 - 06:57 pm 0