Brazil’s unemployment rate fell in July to its lowest level this year, 6% from 6.2% in June, reported the National statistics office. Average real wages rose 4% from a year ago to 1.613 Real (999.50 dollars) a month.
Brazil’s budget primary surplus widened in July to a record for the month pushing the year-to-date total to almost 80% of the government’s 2011 target, according to the Central bank.
Two further headaches for embattled Brazilian president Dilma Rousseff who in eight months of government has seen four ministers and two deputy ministers step down under serious suspicions of corruption.
Brazil local-currency credit rating is being reviewed for an upgrade by Standard & Poor’s, which cited the country’s economic stability. The rating was affirmed at BBB+, the third-lowest investment grade, S&P said in a statement.
The Brazilian government has unofficially cut its outlook for 2011 GDP growth given a slowing world economy and unsustainably fast expansion last year, a local newspaper reported on Friday.
Brazilian authorities announced this week the capture of one of the brains of what is considered the country’s biggest ever bank robbery.
Brazilian scientists say they have found signs of a huge underground river flowing far beneath the Amazon River, reports O Estado de Sao Paulo.
Brazilian meat giant JBS S.A. has announced that BNDES (Brazilian Development Bank) converted a large amount of JBS debt into equity, boosting the bank’s shareholdings in the company to 30.4% from 17% previously.
A Brazilian minister accused his own party of trying to destroy him and said he might not have enough support to continue in his job, raising the odds of yet another high-level departure from President Dilma Rousseff's beleaguered government.
Brazilian president Dilma Rousseff said on Tuesday that the two main parties of the ruling coalition, “PT (Workers party) and the PMDB (Brazilian Democratic Movement) are the basis of the stability and trust of the government”.