Feeble growth forecasts and waning confidence in President Jair Bolsonaro sent Brazil's stocks and currency to their lowest level of the year this week, as analysts warned of further falls.1 comment
Brazil’s push to overhaul its costly social security system is a welcome step toward healing public finances and the economy, but is not enough to stabilize public debt or trigger a positive review on the country’s credit rating, directors at rating agency Fitch said on Thursday.
Brazil’s government will cut its 2019 economic growth forecast to below 2% and seek supplementary funding from state-run BNDES development bank to meet current expenditure and avoid breaking its fiscal rules, Economy Ministry officials said on Tuesday.
Activity in Brazil’s services sector fell 0.7% in March from the month before, government statistics agency IBGE said on Tuesday, a decline far greater than expected and another strong sign that the economy contracted in the first quarter.
Brazil’s Real weakened past 4.00 per dollar for the first time in three weeks on Monday as an escalation in the U.S.-China trade war sent emerging markets reeling and a weekly snapshot of domestic growth forecasts fell to a new 2019 low.
Brazil plans to reduce import tariffs by 10 percentage points during the new government’s four-year term, Economy Minister Paulo Guedes said, a move away from the direction currently being taken by countries such as the United States.
Brazil's central bank held fire on interest rates on Wednesday despite lackluster growth in Latin America's biggest economy and uncertainty over President Jair Bolsonaro's ability to push through a much-needed pension reform.
Uncertainty surrounding Brazil’s new farm credit package is worrying executives from the world’s largest agricultural machine makers since a delay on the definition of the program could hurt their sales.
Brazil’s pension reform process will pick up momentum after the Easter holidays, staying on track for approval in the lower house in May or June, the lower house speaker Rodrigo Maia said on Thursday.
Brazil's newly-elected populist President Jair Bolsonaro addressed the world's business elite in Davos on Tuesday, vowing to transform Latin America's largest economy into a more investment-friendly country. On his first international trip since becoming president, Bolsonaro delivered the keynote speech at the World Economic Forum.