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.
Author: Agência Brasil
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.
The confidence of industrialists in Brazil increased 1.6 point in July over the previous month, according to survey by the National Confederation of Industry (CNI).
The index that keeps track of Brazil’s economy was down 0.51%, after having climbed marginally in the preceding month.
Financial institutions expect the National Treasure, Social Security and Central Bank to register a deficit this year. The amount is higher than an earlier forecast.
An index from Brazil’s National Confederation of Industry remained flat this month compared with last one, but plummeted by 21% over July 2015.
The decline was in May of this year in comparison to the same month of last year and marked the worst result for the period since the start of the survey in 2012.
A document from the Tourism Ministry shows that the number of municipalities that are home to tourism-related activities in the country dropped. As of the last survey, in 2013, there were 3,345.
Financial institutions are expecting the Brazilian economy to shrink 3.30% in 2016. Last week’s forecast had been for a 3.35% decrease, according to a survey by the Brazilian Central Bank.
The company produced 2.9 million barrels of oil equivalent in June. Its previous all-time high had been in August of last year.
