Financial institutions have once again revised down the economic growth estimate for Brazil in 2014, this time to 0.9%.
Author: Agência Brasil
Brazil’s monetary authority is taking actions designed to increase the amount of funds available in the country. Changes in banks’ compulsory deposits will cause more money to circulate.
The country climbed from the 80th to the 79th position in the United Nations’ global human development report, with a 0.744 score. The index ranges from zero to 1.
Brazilian National Treasure issued and repurchased external dollar-denominated debt bonds. Out of the total acquired, US$ 3.5 billion came from European and North American markets and US$ 50 million from the Asian one.
The balance is related to the month of July by the 18th. Last week’s result was positive by US$ 1.3 billion, but it was not enough to change the month’s outlook.
The Ministry of Planning lowered from 2.5% to 1.8% the Brazilian economy growth forecast this year. Inflation rate projection, however, has increased.
The reduction of the value allowed to enter Brazil tax-free did not even become effective before the government reversed its decision. The quota would be lowered to US$ 150, but will remain at US$ 300.
Nearly 280 million volumes were sold last year. Government programs accounted for the bulk of purchases.
The port moved 9.8 million tonnes of cargo last month, the highest volume ever for June. Exports increased but imports declined.
In the first half this year, 2 million tonnes were imported, according to Instituto Aço Brasil.
Sector association has renewed agreement with Apex to boost companies’ participation in international events. The goal is a 30% increase in volume shipped abroad and a 50% increase in number of exporters.
The decline took place in May from April, as per a Brazilian Central Bank index. It was the second month-on-month reduction this year.
Hike was 1.6% from the six first months of 2013. But motorcycle production should decline by 3% this year, according to forecast by Abraciclo.
The result concerns the first two weeks of July. Year-to-date through July 11th, United States dollar outflows from Brazil have also exceeded inflows, by US$ 1.2 billion.
