Brazil Markets Predict Economy to Grow 1.2 Percent in 2017

Brazil Markets Predict Economy to Grow 1.2 Percent in 2017

By Jay Forte, Contributing Reporter RIO DE JANEIRO, BRAZIL – Financial institutions consulted by the Central Bank (BC) of Brazil reported that the projected growth of the Brazilian economy in 2017 increased from 1.1 percent to 1.2 percent. The estimates are part of research done every week by the BC on key economic indicators, and […]

Brazil Registers Worst 6-Month Primary Deficit in History

Brazil Registers Worst 6-Month Primary Deficit in History

By Lise Alves, Senior Contributing Reporter SÃO PAULO, BRAZIL – The increase in earmarked expenditures and the significant decrease in revenues led Brazil’s federal government to register the worst primary deficit of its history during the first semester of 2016. In the first six months of the year the primary deficit totaled R$32.52 billion compared […]

Risk Agency Sees Economic Improvement in Brazil in 2016

Risk Agency Sees Economic Improvement in Brazil in 2016

By Lise Alves, Senior Contributing Reporter SÃO PAULO, BRAZIL – Although Brazil’s economy will still register a contraction this year, the decline will be lower than expected, according to risk agency Fitch. Its Global Economic Scenario report released on Wednesday estimates that the country’s economic contraction would total 3.3 percent in 2016, instead of the […]

Rio’s Olympics Expected to Run 43 Percent Over Budget

Rio’s Olympics Expected to Run 43 Percent Over Budget

By Lise Alves, Senior Contributing Reporter SÃO PAULO, BRAZIL – After years of planning and implementing new infrastructure works, Rio de Janeiro will host the 2016 Olympics and Paralympic Games. The Games, according to the latest estimates, cost at least 43 percent more than initially budgeted and although the mega sports events may increase retail […]

IMF Calls for Brazil to Reform and Increase Taxes

IMF Calls for Brazil to Reform and Increase Taxes

By Lise Alves, Senior Contributing Reporter SÃO PAULO, BRAZIL – Although more optimistic about Brazilian GDP growth, the International Monetary Fund (IMF) recommended on Thursday that the Brazilian government increase taxes to seek to balance its public accounts. According to a document released by the entity, the country should not only decrease expenditures but increase […]

Brazil Reacts to U.K. Decision to Leave European Union

Brazil Reacts to U.K. Decision to Leave European Union

By Lise Alves, Senior Contributing Reporter SÃO PAULO, BRAZIL – Brazilian politicians received with mixed feelings the news that the U.K. voted to withdraw from the European Union. All through the day on Friday, Congressional representatives spoke of concern with the possible repercussions of the decision on E.U.-Mercosur negotiations. “For years we have been seeking […]

Domestic Airline Travel in Brazil Falls 8.2 Percent in 2016

Domestic Airline Travel in Brazil Falls 8.2 Percent in 2016

By Nelson Belen, Contributing Reporter RIO DE JANEIRO, BRAZIL – Since the start of the year, Brazil’s aviation industry, particularly on the domestic front, has been feeling the effects of the country’s weak economy and political turmoil. On Tuesday, June 21st, the Brazilian Association of Airlines (ABEAR) released its latest figures for the year so […]

UN Says Brazil Pulls Down Region’s Foreign Investments

UN Says Brazil Pulls Down Region’s Foreign Investments

By Lise Alves, Senior Contributing Reporter SÃO PAULO, BRAZIL – The slowdown of the Brazilian economy was one of the key factors for the decline in foreign direct investments (FDI) inflows in Latin America and the Caribbean in 2015, according to the Economic Commission for Latin America and the Caribbean (ECLAC). According to the United […]

The First Month of Brazil’s Interim President Michel Temer

The First Month of Brazil’s Interim President Michel Temer

By Lise Alves, Senior Contributing Reporter SÃO PAULO, BRAZIL – On Sunday, Brazil’s interim president, Michel Temer, completed a month in office, after Brazilian President Dilma Rousseff was suspended while the country’s senate votes on her impeachment process. With many ideas on how to bring Brazil out of one of its worst economic and political […]

Record Number of Brazilian Firms File for Judicial Recovery

Record Number of Brazilian Firms File for Judicial Recovery

By Lise Alves, Senior Contributing Reporter SÃO PAULO, BRAZIL – In the first five months of this year judicial recovery requests in Brazil increased by 95 percent in comparison to the same period last year, according to a survey conducted by Serasa Experian. Unlike bankruptcy, judicial recovery is a court-approved rehabilitation procedure, whose main purpose […]

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