In a lecture next Tuesday at the Arab Chamber, Demétrio Magnoli will outline the country’s development perspectives amid a challenging international situation.
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The third edition of the Global Islamic Economy Summit is scheduled for October 11 and 12. The event will discuss compliance with Muslim laws in sectors such as finance, foodstuff, tourism and arts.
The sector’s exports to the two Arab destinations declined more than 20% from January to July this year over the same months in 2015, according to data from the sector’s association Abicalçados.
Brazil’s economic contraction grew milder during quarter two this year, its monetary authority said, imputing the shift to increased consumer and business owner confidence.
Foreign sales revenues reached USD 940 million, 24.6% higher than in July 2015. Sales to Arab countries came out to USD 11.65 million, an 86% increase.
A doctorate degree holder and a specialist in International Relations, he will discuss the challenges and opportunities facing Brazil in the global scenario, on August 9 in São Paulo.
US dollar inflows to Brazil were higher than outflows in July, capping a two-month downward run.
In a lecture at the Arab Chamber, Banco Plural economist Paulo Val said spending cuts and a Social Security reform are crucial in order for the country to start growing again. He also covered forex trading and inflation.
International prices of primary products tumbled from June to July, according to index measured by the Brazilian Central Bank (BC).
Brazil produced 3.21 million barrels of oil equivalent per day in June, with 2.558 million of oil barrels and 103.5 million of cubic meters of natural gas.
Sales declined in July from July 2015, but went up 5.6% relative to July 2016.
Brazilian exports outweighed imports by USD 4.578 billion during the month. Year-to-date, the surplus was USD 28.23 billion, an all-time high for the period.
The Brazilian auto industry’s premier event will run from November 10 to 20 in São Paulo.
Financial institutions responding to a Central Bank poll believe Brazil’s economy is set to shrink by 3.24% this year. Last week’s forecast had been a bit worse at 3.27%.
