Net profit soared to an all-time high for Brazil’s state-run oil company, at BRL 18.9 billion.
Author: Agência Brasil
Brazil ran a USD 2.3 billion surplus last month, the lowest for the month since 2010. Both exports and imports slid.
Corporations run by federal government ran USD 6.5 billion in profit in Q1. BNDES saw the strongest numbers.
Monetary Policy Committee cut down Selic by 0.5 percentage point, to 6% per annum. Reduction is higher than forecasted by the market.
The region’s economy is seen growing 0.5% this year according to the UN agency, down from 0.9% in 2018.
Such is the amount available for Brazilian federal companies to invest during the rest of 2019.
Deficit at public accounts was lower than a year ago, when it reached USD 3.6 billion.
Financial institutions expects the Selic to be reduced by 0.25 percentual point in the Copom meeting this week.
The foreign ministers of the bloc composed of Brazil, Russia, India, China and South Africa convened in Rio de Janeiro. They called out for increased representation of emerging countries with international organizations.
The first half saw 17.2 million tons of raw steel manufactured, down 1.4% year-on-year. Exports were down 2.4%.
Loans made by Brazil’s state-run BNDES amounted to USD 25 billion in H1. Consultations and approvals declined even more.
Country received USD 2.19 billion, down 68% from a year ago. Amount was not enough to cover current account deficit of USD 2.91 billion in the month.
Expenditure during international trips was up 2.44% year-on-year to USD 1.5 billion.
Brazil saw 48,400 posts created in June, as per data from CAGED.
