Shrinking Petrobras Investments Lead to Reduction of Brazil’s GDP

By Lise Alves, Senior Contributing Reporter

SÃO PAULO, BRAZIL – The reduction by almost forty percent in investments by Brazil’s oil giant, Petrobras is expected to be the main cause for the shrinking of the Brazilian economy this year, concludes a study conducted by the Finance Ministry on Wednesday.

According to the study, released by the Ministry’s Economic Policy Department (SPE), the reduction in investments from US$37.1 billion in 2014 to US$25 billion in 2015 is expected to be responsible for at least a two percent contraction in the country’s Gross Domestic Product (GDP . . .

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