The National Confederation of Industry changed from 3.1% to 3.5% its forecast for the decline of the Brazilian economy this year.
Author: Agência Brasil
Brazil’s 2015/2016 season harvest will decrease in size as against 2014/2015, the National Supply Company (Conab) has reported. Soy and maize output dropped. The Statistics Institute also expects production to shrink.
The financial sector was the one responsible for the country`s forex deficit of USD 3.5 billion in June. Import and export-based operations registered a surplus of USD 3.9 billion.
The costs of internationally traded basic goods in Brazil, tracked by the Brazil Commodities Index, remained level in June from May.
Brazil produced more than 3.1 million barrels of oil equivalent per day in May. Extraction in the pre-salt layer went up 15% and reached 1.15 million barrels a day.
From the total amount of credit for farming in 2016/2017, USD 28 billion will go to farmers and cooperatives, with USD 3 billion earmarked for corporate agribusiness.
Brazilian financial institutions are expecting the consumer price index to be 7.27% by the end of the year. Last week’s projection had been 7.29%.
Exports outpaced imports in the first half of this year in Brazil by the widest margin ever for the period. In June alone, a USD 3.9 billion surplus was achieved.
After two months going up, industry’s performance remained stable in May. With this result, in the first five months of the year the decline almost reached 10%.
Brazil’s National Monetary Council is required to establish a target two years ahead of time, with 1.5 percentage point headroom up or down.
The Brazilian minister of Finance said reliance on Brazil’s recovery is increasing and that the government’s team of economists is working to change the scenario around.
With inflation accounted for, there was a decrease of 2.16% over April and of 2.13% in comparison with May of last year.
The federal, states and municipal governments incurred the widest primary deficit on record for a May last month, the Brazilian Central Bank reported.
Measured by Fundação Getulio Vargas, the index reflects, mainly, the improvement in business owners’ expectations to the future.
