Financial institutions forecast growth of the Brazilian economy at 2.28% in 2013. The percentage represents a reduction over the previous estimate, which was 2.31%.
Author: Agência Brasil
The Central Bank expects continued growth of family consumption and return to investment in the country, according to the Monetary Policy Committee meeting report disclosed on Thursday (18).
In the first two weeks of the month, Brazil recorded a US$ 1.1 billion forex deficit, according to the Central Bank. Since January, there was a US$ 8.4 billion forex surplus.
An index in the area dropped and reached 126.5 points in June, reflecting deceleration of the Brazilian economy. It is calculated by FGV and The Conference Board and was disclosed for the first time.
The oil company signed a contract with the Japan Bank for International Cooperation for two lines of credit, which will be spent on equipment and services from Japan.
The estimate of financial institutions for Brazil’s GDP growth in 2013 has been reduced for the ninth time in a row, this time from 2.34% to 2.31%.
The estimate for the Brazilian oil area to be tendered in October is by the director of the National Petroleum, Natural Gas and Biofuel Agency (ANP), Magda Chambriard.
The reduction was over the previous month and was the greatest in the Central Bank’s historic series, which started in 2003. In the year, however, the index presented expansion of 3.01%.
In the first five months of this year, the Brazilian Development Bank (BNDES) disbursed US$ 32 billion, an increase from the same period in 2012.
The Food and Agriculture Organization has warned that although these products should grow 7% in offer in 2013, 34 nations are living a situation of food insecurity.
The volume processed at plants in Mid-South Brazil was down 17.5% in the second half of June from the first half due to rainfall.
There was a decline over April, following bullish and steady periods early on in the year. Over May 2012, the decline was even sharper at 0.7%. Year-to-date, the rate is down 0.8%.
According to Brazilian Finance minister Guido Mantega, tariffs should be reduced to offset the dollar hike in the past weeks. Tax on items such as steel, fertilizers and glass increased in 2012.
According to Brazil’s Finance minister Guido Mantega, travel, tickets, third-party services and rent expenses will go down the most.
