A major hydrocarbon producer, the Arab country is struggling to spur its economy into growth. A four-year-long oil price slump has made an impact on the Algerian budget.
Browsing: Economy
Last month saw USD 19.2 billion worth of exports from the country, with imports reaching USD 13.2 billion and leading to a USD 5.9 billion surplus.
In order to offset losses stemming from a diesel price cut, Brazil’s federal government has put in place measures including slashing tax credits to exporting companies.
Sales of passenger cars, light utility vehicles, trucks and buses dropped by 7.11% in May from April.
The Brazilian federal government proposed a law to the National Congress whereby private sector players will be allowed to buy six of state-run power utility Eletrobras’ distribution subsidiaries.
The Arab country in Africa has progressed economically, stated the IMF. The Fund disbursed USD 23.5 million to Mauritania as part of an agreement.
Brazilian truck drivers prevented goods from reaching seaports and caused the death of birds at poultry companies’ facilities. The Arab Chamber is working to prevent the strike from impacting exports.
The Gross Domestic Product registered a growth of 0.4% over 2017’s last three months and 1.2% over the same period of last year.
Non-nationals working in the country wired 17.3% more cash to their home countries in the first three months of this year.
President Michel Temer spoke on the opening ceremony of the Brazil Investment Forum 2018. The Arab Chamber was represented in the event, which is organized by Apex-Brasil.
Anticipated payment of government judicial securities impacted the finances of the Brazilian Central Government.
Purchases declined by 10.1% in the four months through April, industry association Abiquim said. Imports also slid.
Companies taking part in exports promotion program Brazilian Footwear have picked Saudi Arabia as one of the markets to be explored in 2019 and 2020.
The month saw the best result in four years, with BRL 130 billion collected, according to Brazil’s Federal Revenue Service.
