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.
Author: Agência Brasil
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.
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.
