Annual price inflation fell to 12.8% in February, down from 24% in January. Vegetable prices saw an 8.2% drop, while costs for water, electricity, and gas remained stable.
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Brazil’s gross domestic product saw its largest growth since 2021. The expansion of industry, construction, and household consumption were some of the key drivers. As unemployment reached the lowest unemployment, Brazilians increased their spending.
In a cabinet meeting led by the prime minister, the country outlined a plan for the growth of the phosphate sector, which includes raising production to 14 million tonnes per year.
Data from the Saudi Central Bank shows that spending jumped nearly 35% in the Arab country in the week leading up to Ramadan. Families typically prepare for the period and make larger purchases, mainly of food.
In January of this year, USD 60.2 million were exported, mainly in beef, chicken, and sugar.
In January, Brazil’s exports to the Arab country rose by 400%, but overall international shipments were lower than in the same period last year.
Portsudan terminal, on the east coast of the Arab country, has gained a VIP lounge, a specific hangar for customs services, and infrastructure improvements.
Exports to the Arab country increased in January compared to the same period last year, according to data from the Brazilian government.
The Aqaba Container Terminal saw a 49% increase in ship handling last year. Infrastructure modernization is one of the key drivers of this growth.
According to Petrobras’ director for exploration and production, Sylvia dos Anjos, the Brazilian state-run oil firm is looking to acquire oil fields in African countries.
The finance minister will travel to Saudi Arabia and the UAE on Friday (14) for a schedule that includes meetings with local ministers and participation in an IMF conference.
A report released by the International Monetary Fund on Tuesday (11) presents a projection of growth for the economy of the Arab country, mainly based on public investments, strong tourism, and the increase in natural gas production.
The outlook for this year points to expansion with controlled inflation, even amid rising domestic demand in the North African country.
At the Arab-Brazilian Chamber, BTG Pactual’s chief economist, Mansueto Almeida, analyzed the global scenario and highlights concerns about Brazil’s fiscal sector. Angela Martins, CEO for Latin America at First Abu Dhabi Bank, shared Arab investors’ perspective on the country.
