Brazil Sees Foreign Spending and Tourism Boost in First Quarter

By Nelson Belen, Contributing Reporter

RIO DE JANEIRO, BRAZIL - In contrast to most of the recent negative financial news from Brazil, on Tuesday, May 24th, the Central Bank released positive figures from the foreign spending sector. According to the Ministry of Tourism, the Central Bank data shows that spending by international visitors grew by 11.47 percent in the first quarter of 2016 compared to the same period last year.

From January to April, foreigners injected US$2.32 billion into the Brazil economy, compared to US$2 billion in the first four months of 2015. In April 2016, the . . .

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