Brazil Registers Record Deficit in Current Accounts

Brazil Registers Record Deficit in Current Accounts

By Lise Alves, Senior Contributing Reporter SÃO PAULO, BRAZIL – Brazil’s current accounts in 2014 registered a record deficit of US$90.948 billion, according to data released by Brazil’s Central Bank (CB) on Friday, January 23rd. The result was well above 2013’s deficit of US$81.108 billion and the highest registered since the CB started the series […]

Brazil has the 4th Costliest Big Mac in the World

Brazil has the 4th Costliest Big Mac in the World

By Lise Alves, Senior Contributing Reporter SÃO PAULO, BRAZIL – According to a survey conducted by British weekly, The Economist, Brazil has the fourth most expensive Big Mac in the world. The latest Big Mac Index, released on January 22nd, shows that the ever-popular sandwich can be bought at McDonald’s restaurants all around the country […]

Brazil Increases Taxes on Fuels, Imports and Credit

Brazil Increases Taxes on Fuels, Imports and Credit

By Lise Alves, Senior Contributing Reporter SÃO PAULO, BRAZIL – The Brazilian government’s new economic team announced the first measures which they hope will reduce the country’s primary deficit and put the economy back into the path of sustainable growth. Finance Minister, Joaquim Levy, announced on Monday, the government will increase taxes on fuels, imports […]

Brazil Seeks Closer Trade Ties with U.S., European Union

Brazil Seeks Closer Trade Ties with U.S., European Union

By Lise Alves, Senior Contributing Reporter SÃO PAULO, BRAZIL – During the next four years Brazil will work toward strengthening its commercial ties with the United States, expanding its accords with Mercosur partners as well as finalizing trade agreements with Central and South American countries such as Mexico, Peru, Colombia and Chile, stated the new […]

Brazil’s New Finance Minister Faces First Challenges

Brazil’s New Finance Minister Faces First Challenges

By Lise Alves, Senior Contributing Reporter SÃO PAULO, BRAZIL – Joaquim Levy took over as Brazil’s new Finance Minister on Monday, January 5th, and announced that balancing public accounts is an essential condition for the country’s sustainable development and social economic growth. However, with the current economic state of the country, this will not be […]

Tax Exemptions in Brazil Affect Federal Revenues for 2014

Tax Exemptions in Brazil Affect Federal Revenues for 2014

By Lise Alves, Senior Contributing Reporter SÃO PAULO, BRAZIL – Tax exemptions and reductions given by the Brazilian government to major industry sectors were greatly responsible for the significant decline in federal revenues from January to November which in turn affected public accounts, says Brazil’s Receita Federal (Federal Revenue Service). According to news agency, Agencia […]

Brazil a Top Exporter of Illicit Financial Flows in World

Brazil a Top Exporter of Illicit Financial Flows in World

By Lise Alves, Senior Contributing Reporter SÃO PAULO, BRAZIL – A survey released Tuesday by Global Financial Integrity (GFI) reveals that Brazil is the seventh biggest exporters of illicit financial flows in the world, averaging US$21.71 billion of illicit flows per year for the past ten years. Although one of the top ten, Brazil was […]

Dollar Closes at R$2.70, Highest in Almost Ten Years

Dollar Closes at R$2.70, Highest in Almost Ten Years

By Jay Forte, Contributing Reporter RIO DE JANEIRO, BRAZIL – In June 2011 the U.S. dollar sank against the Brazilian real to its lowest point in recent memory, it was US$1 to R$1.55. Now, a week after surpassing US$1 to R$2.60, the U.S. dollar climbed to US$1 to R$2.70, and ended Monday (December 15th) at […]

Brazil Grows in Q3, No Longer in Technical Recession

Brazil Grows in Q3, No Longer in Technical Recession

By Lise Alves, Senior Contributing Reporter SÃO PAULO, BRAZIL – The Brazilian Gross Domestic Product (GDP) grew by 0.1 percent during the third quarter of 2014, removing the country from a technical recession, according to data from the IBGE (Brazilian Institute of Geography and Statistics). A ‘technical recession’ occurs when the GDP falls for two […]

Brazil Forecasts Lower GDP Growth, Increased Inflation

Brazil Forecasts Lower GDP Growth, Increased Inflation

By Lise Alves, Senior Contributing Reporter SÃO PAULO, BRAZIL – The government of Brazil has reduced its official estimate for the country’s economic growth (GDP) for 2014 and 2015, increased its forecast for the IPCA inflation index (Consumer Price Index) for both years, according to the Ministry of Planning. “The GDP growth forecasts for 2014 […]

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