Sales declined in July from July 2015, but went up 5.6% relative to July 2016.
Author: Agência Brasil
Financial institutions responding to a Central Bank poll believe Brazil’s economy is set to shrink by 3.24% this year. Last week’s forecast had been a bit worse at 3.27%.
The Brazilian state-run oil company is handing over its 66% stake in the block known as Carcará for USD 2.5 billion.
Brazil’s federal, state and local governments posted a combined USD 3 billion deficit in June, the poorest result for the month since record-keeping began in 2001.
Collection of taxes and contributions reached BRL 617 billion in the first half of this year and BRL 98 billion in June, the worst result for the month since 2010.
The credit rating agency believes that stability in the price of commodities will improve the state of emerging economies such as Brazil and Russia. Forecast on the fall of the Brazilian economy went from 3.8% to 3.3%.
According to Brazil’s National Federation of Industry (CNI), the share of foreign sales in total production value climbed to 15.8% in the 12 months ended May, up from 14.2% in the preceding 12 months.
After two months of surpluses, the result was negative by almost USD 2.5 billion in June, mostly due to the primary income and services accounts.
The Brazilian Central Bank made a forecast of the additional revenues that international visitors will spend in Brazil during the Rio 2016 Summer Olympics. The event takes place from August 5 to 21.
Expectations from financial institutions polled by the Brazilian Central Bank for the Extended Consumer Price Index (IPCA) dropped from 7.26% to 7.21%.
From May to June, it went up from BRL 2.87 trillion (USD 876 billion) to BRL 2.95 trillion (USD 900 billion). The government’s forecast on the debt at year-end could reach BRL 3.3 trillion (USD 1 billion).
Utilization increased by 77% for wind power and 18.6% for ethanol in 2015. Gasoline consumption saw a 9.5% decline.
During a meeting this Wednesday (20), the Brazilian Central Bank decided to keep the Selic rate the same for the eighth consecutive time.
Financial institutions polled by the Brazilian Central Bank believe policymakers will keep the interest rate at 14.25% at this week’s meeting, but slash the benchmark rate to 13.25% before the year ends.
