The Brazilian government’s plans to overhaul its pension system can still be saved if lawmakers reverse changes to transition rules and concessions to legislative aides, according to Economy Minister Paulo Guedes.
Brazilian state-run oil firm Petrobras has made natural gas discoveries in six deep-water fields in the Sergipe Basin, it said in a regulatory filing on Monday.
The Brazilian economy’s ability to emerge from its current funk and return to “more robust” levels of growth largely hinges on the approval and implementation of fiscal reforms, the central bank’s deputy governor said in London.
Brazilian banks are chalking up “excessive” profits, Economy Minister Paulo Guedes said, adding that the country needs an injection of competition to end what he called the cartels that dominate many of its major sectors.
Brazil posted a surprise current account deficit in April, central bank data showed on Monday, although as a share of national economic output Brazil's balance of payments shortfall with the rest of the world is showing signs of stabilizing.
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.
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.