By the end of the year, state and municipal governments will get funding to foster exports. The measure is designed to offset losses stemming from export tax exemptions.
Author: Agência Brasil
Report by the Brazilian Central Banks shows that financial institutions in Brazil can withstand shock effects in adverse scenarios such as changes in interest rates, foreign exchange rate and higher delinquency rate.
The 2015 economic shrinkage projection from Brazilian financial institutions has gotten worse. As of last week, a 2.7% decline was expected, based a Central Bank poll.
The court at The Hague rejected Chile’s appeal that questioned the court’s jurisdiction to hear the case.
The measure aims to hold back the price of the North American currency, which reached R$ 4.24 on Thursday. It closed the day at R$ 3.99.
The institution reported this Thursday (24th) that it expects Brazil’s Gross Domestic Product to shrink 2.7% in 2015. The previous estimate was 1.1%.
According to the Finance minister, Joaquim Levy, the current appreciation of the North American currency is a global trend and a problem not only to Brazil.
The Brazilian Central Bank has maintained its growth projection for credit operations in the country. As of August, consumers and corporations had R$ 3.13 trillion (US$ 780.2 billion) in loans taken out.
The estimate for 2015 has been revised from US$ 81 billion to US$ 65 billion. The institution says foreign direct investment will be enough to finance the negative result in international transactions.
The Brazilian state-owned oil company reported that negotiations with Mitsui are in their final stages concerning the latter’s acquisition of a stake in the former’s gas industry subsidiary.
Brazilians spent US$ 1.2 billion in visits to other countries in August, according to data from the Brazilian Central Bank. It’s a decline of 46.2% over the same month of 2014.
The Brazilian economy slowed down month-on-month from June. In June from May, activity had declined by 0.73%, as per a Central Bank index that tracks the evolution of the economy.
Index from the National Confederation of Industry hit 35.7 points, the lowest score since records started being kept in 1999.
Expansion plan of the energy sector forecasts an increase of 55% in power generation in Brazil until 2024.
