The Brazilian Ministry of Finance released its revised GDP estimate for 2017 this Wednesday (17), from 1.2% to 1.6%. The country is seen resuming growth in the final quarter of this year.
Browsing: Economy
The facility in Pernambuco, Brazil put out over 3 million barrels of oil in July. Diesel and petroleum naphtha production also hit all-time highs.
Foreign sales totaled USD 6.9 billion from January to July. Performance was driven by machinery and electrical sectors.
The Education Center of the Federal University of Pernambuco and the Palestine-Recife Alliance are hosting debates and art shows focusing on the Palestinian issue on August 23 and 24.
Industrialists gained confidence from July to August in Brazil, according to research by the National Federation of Industry (CNI). Index hadn’t surpassed 50 points since March 2014.
The country registered a USD 1.685 billion surplus in the second week of the month, up from USD 637 million in the first week.
Financial institutions increased from 7.2% to 7.31% their estimate for inflation in Brazil and from 13.5% to 13.75% their forecast for the benchmark interest rate.
A Brazilian Central Bank index shows contraction of GDP in Q2 from Q1 2016. Year-on-year in Q2 saw a much wider drop at 4.37%.
The Brazilian National Development Bank incurred a net loss in the first half of this year. In the comparable period of 2015, it registered BRL 3.5 billion in profit.
Total revenue went down, but the vehicles, trailers, semi-trailers and auto parts maker increased its foreign sales in quarter two of this year. The Middle East’s share in the company’s total sales remained flat.
The funds will be used to support a comprehensive economic reform program that aims to bring down the country’s debt and secure social services.
Pamonha Gourmet exports the frozen product to six European countries. The company directs 30% of its sales to markets abroad and now is in negotiations to enter the Middle East.
Financial institutions polled by the Brazilian Ministry of Finance are expecting the National Treasury, Social Security and Central Bank to run a USD 50.5 billion deficit, up from USD 49.4 billion in the prior forecast.
In a lecture at the Arab Chamber, the sociologist said that Brazil needs to get into international agreements to take part in trade’s new rules. He also pointed out that the window for bilateral agreements is closing.
