Import taxes on 251 machinery and equipment items were cut from 14% to 2%, with 24 computing items also having their import tariff slashed from 16% to 2%.
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It’s the 14th consecutive decline, according to the Brazilian Central Bank. The 0.29% drop was over January. In comparison to February 2015, recession reached 4.54%.
Mergers and acquisitions dropped 67% to USD 4.7 billion in Q1 this year, according to a survey from Thomson Reuters, in the weakest first quarter since 2014.
According to the Brazilian Central Bank, the deficit stood at USD 855 million in March. The Q1 deficit reached USD 7.591 billion.
Commercial operation of the hydroelectric plant started this Wednesday. The power plant is located along the Xingu River, Pará state.
The Santos city-based beachwear brand Santa Areia has shipped products to a client in the Arab country. The winner of a foreign trade prize, the company wants to do more business with Arab countries.
From May 22 to 26, the sector’s association will set up meetings and visits to the Gulf country to define Brazilian footwear business strategies there. Currently, 130 members of the association export to the UAE.
Overall, USD 88 billion worth of taxes and contributions were collected in Q1 in Brazil, down 8.2% from Q1 2015.
A report by the bank estimates that this is the annual amount the Israeli government withholds from the Arab country. The document will be presented in Brussels to the Ad Hoc Liaison Committee for support to Palestinians.
The number concerns a March-on-March comparison for Brazil according to an indicator measured by Serasa Experian. In March from February, demand was up 8.4%.
In April’s third week, exports exceeded imports in USD 925 million in Brazil. Year-to-date, foreign trade balance registers a surplus of USD 10.9 billion.
Financial institutions lowered their 2016 inflation forecast for the sixth straight time. Next year, prices are expected to increase 5.93%.
The GDP should pick up in 2016, after posting 2.4% growth in 2015, the lowest rate in four years. The economy is struggling with the repercussions of conflicts underway in neighboring countries.
This is the forecast on the Union’s fiscal target within the proposed budget Lei de Diretrizes Orçamentárias to be sent to Congress.
