Last month’s performance had better numbers than those in December 2015. Output and employment indicators showed improvement.
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There was a decline of 5% over 2015. Factors such as lower oil prices and a smaller maize crop output impacted the performance.
The 4th bidding rounds of areas with marginal accumulations will be held on May 11. Seminar on the subject is scheduled to January 26.
The Fund’s executives gave positive assessments on the direction of economic policies in Egypt and Saudi Arabia.
Last year, 887,600 units were produced in Brazil. Exports declined 14.6% in the same period.
The indicator, measured by the National Commerce Confederation for Goods, Services and Tourism, declined 1.7% in January.
Fashion designer Vanessa Montoro created six unique models of abayas that she wants to introduce to the Arab market. The pieces can be customized according to the fashion of the buying country.
IMF states that the country is able to ‘mitigate’ the impact of lower oil prices and that non-oil sectors continue to expand.
Report by the organization signals a stability of global GDP rather than sustainable recovery. In the country, unemployment, fiscal adjustment and indebtedness inhibit growth.
Crude steel output in Brazil slid 9.2% last year, with rolled products output dropping 7.7%. Both exports and imports also declined.
The estimate for the growth of the Brazilian economy in 2017 was cut in 0.3 percentage point to 0.2%. Saudi Arabia growth estimate was cut in 1.6 percentage point to 0.4%.
With USD 2.919 billion in exports and USD 2.799 billion in imports, January’s second week registered a trade surplus.
Consumer demand was driven by the need to pay pre-existing debts, according to survey by consulting firm Serasa Experian.
Financial institutions believe the Selic, the benchmark interest rates, will slid to 9.75% by the end of the year, against the current 13% rate.
