MercoPress. South Atlantic News Agency
Brazilian economy prospects worsen, says central bank survey
GDP figures come from Boletin Focus, a weekly Central Bank survey of analysts from about 100 private financial institutions on the state of the national economy Analysts expect Brazil's economy to contract by 3.33% this year, with the outlook worsening from last week, the Central Bank said Monday. Last week, analysts said they expected Brazil's economy to contract by 3.21% this year.
The gross domestic product figures 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.
Brazil ended 2015 with an inflation rate of 10.67%, according to official figures, while the economy contracted by 3.71%, indicated calculations made by analysts consulted on the matter, the worst performance in the past 25 years.
The downturn has resulted in an increase in unemployment and a retraction in consumption, which for years was the principal engine of Latin America's largest economy.
In an attempt to sort out the economic mess, the government of president Dilma Rousseff has launched a stringent fiscal adjustment plan that includes reducing public spending and increasing taxes, although a portion of the measures in the complete packet still must be approved by Congress.
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Read all commentsThere is only one way: sign free trade agreement with the BRICS and prevent speculative capital inflows in Brazil.
Feb 16th, 2016 - 11:35 am 0The development of a common defense industry within the BRICS should be a priority against Western military threat.
https://dinamicaglobal.wordpress.com/2016/02/12/adeus-petrodolar-a-russia-aceita-o-yuan-e-e-hoje-a-maior-parceira-de-petroleo-da-china/
Western military “THREAT”? :o))
Feb 16th, 2016 - 01:00 pm 0Brasshole idiota, Brazil needs to gradually drop its protectionist ways with more than just the other BRICS (which are also mostly in a huge hole themselves).
Feb 16th, 2016 - 02:17 pm 0Commenting for this story is now closed.
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