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Montevideo, June 18th 2019 - 16:58 UTC

Tag: Brazil’s GDP

  • Thursday, January 19th 2017 - 08:00 UTC

    Brazil confident in “recovery curve” coming from a very low level, says Meirelles

    “The IMF tends to be more conservative”. What's really important is the economic recovery curve that has been coming from a very low level, Meirelles said.

    Brazil's Finance Minister Henrique Meirelles has admitted that the government is going to revise its official forecast for this year's GDP growth, but gave no details as to the extent of the change. In its latest forecast, the government had estimated the economy was going to grow 1% in 2017.

  • Thursday, November 3rd 2016 - 09:53 UTC

    Temer austerity program inspired in Thatcher´s program to contain expenditure

    Temer watched a Thatcher video where she defended cutting public expenditure, opening the financial sector, privatizations and making labor rules more flexible

    Brazilian president Michel Temer said that the economic adjustment implemented by Brazil is inspired in the program of former prime minister Margaret Thatcher, who led the UK from 1979 to 1990. “As Thatcher use to say and we are following in Brazil, containing government expenditure is necessary because we are only going to spend collected revenue”.

  • Friday, October 7th 2016 - 12:18 UTC

    Temer wins first Congressional battle with milestone bill to cap public spending

    Temer hopes the proposal, which would limit growth in spending to the rate of inflation for up to 20 years, will eventually clear the two Houses

    A Congressional committee in Brazil approved on Thursday a constitutional amendment that would limit public spending to the rate of inflation for 20 years, handing President Michel Temer an initial victory in his plan to plug a widening deficit, which if continued at the current rate could lead to fiscal collapse and public accounts insolvency, “a repeat of the Greek tragedy”.

  • Saturday, May 14th 2016 - 09:09 UTC

    Temer's team confident it has the political support to implement tough measures

    “We have enough support to pass urgent measures through Congress,” said chief of staff Eliseu Padilha

    Brazil's interim government said on Friday it has the political support for tough measures needed to return the economy to growth and can secure a permanent mandate once populist President Dilma Rousseff's impeachment trial is over. Presidential Chief of Staff Eliseu Padilha said the incoming government understood it was only provisional for now and had ordered portraits of Rousseff to be left hanging in federal buildings.

  • Wednesday, January 27th 2016 - 08:28 UTC

    Brazil's current account deficit drops to 3.32% of GDP, lowest since 2010

    According to Maciel, the dollar, which soared roughly 50% in 2015 from 2014, also had an impact on the current account.

    The soaring US dollar and Brazil’s slumping economy led to a weaker demand for imported goods and services in 2015. As a result, Brazil’s current account deficit reached USD 58.942 billion, equivalent to 3.32% of GDP. The result is the smallest amount since 2010. In 2014, the current account deficit reached USD 104.181 billion, or 4.31% of GDP.

  • Friday, December 18th 2015 - 08:01 UTC

    Brazil's budget targets ignored by Congress; Finance minister could resign

    Lawmakers approved a budget targeting a primary surplus of 0.5% of GDP, which was below the 0.7% target sought by Finance minister Levy

    Brazil’s Congress on Thursday approved a 2016 budget with surplus targets lower than what Finance Minister Joaquim Levy wanted, a day after the country lost an investment-grade credit rating on concerns about fiscal restraint.

  • Tuesday, December 15th 2015 - 08:32 UTC

    Brazil's Central bank Focus weekly negative report

    The political situation and the plunging of an commodities' exports dependent economy has turned Brazil and president Rousseff's prospects into turmoil

    Analysts expect Brazil's economy to contract by 3.62% this year, with inflation hitting 10.61%, the Central Bank said Monday. GDP and inflation estimates 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.

  • Tuesday, December 8th 2015 - 09:08 UTC

    No break for the Brazilian economy, according to the central bank

    GDP and inflation estimates come from the Boletin Focus, a weekly Central Bank survey of analysts from about 100 private financial institutions

    Analysts expect Brazil's economy to contract by 3.50% this year, with inflation hitting 10.44%, the Central Bank said on Monday. GDP and inflation estimates 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.

  • Thursday, November 26th 2015 - 08:18 UTC

    Poor report on Rousseff's performance from Brazil's central bank forecast

    President Rousseff has been forced to raise taxes, cut spending and investment, and Congress members from her coalition don't accept it

    Analysts expect Brazil's economy to contract by 3.15% this year and 2.01% in 2016, the Central Bank reported. The gross domestic product (GDP) estimate comes from the Boletin Focus, a weekly Central Bank survey of analysts from about 100 private financial institutions on the state of the national economy.

  • Friday, November 20th 2015 - 09:44 UTC

    Brazilian economic activity contracts for the fourth straight quarter

    The bank's IBC-Br economic activity index indicates economic activity fell 1.41% in the third quarter from the previous three months.

    Economic activity in Brazil contracted for the fourth straight quarter, central bank data showed this week as Latin America's biggest economy plunges further into recession. The bank's IBC-Br economic activity index indicates economic activity fell 1.41% in the third quarter from the previous three months.

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