Brazil’s federal, state and municipal governments had a combined USD 7 billion surplus after eight straight months in deficit. The result even surpassed January 2015’s.
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Such was the mining company’s result in 2015. In quarter four, it incurred BRL 33.1 billion in losses. The primary reason for the weak performance was iron ore prices.
Collection of part of the funds raised through auctions for renewal of hydroelectric plants concessions enabled a surplus in January, according to numbers from Brazil’s National Treasury.
Foreign sales of capital goods declined year-on-year in January in spite of a favorable exchange rate. The industry also saw net revenue go down.
The Egyptian president said he plans on completing 656,000 units in two-and-a-half years’ time.
The last of the three major rating agencies to strip Brazil of investment grade status on the back of deteriorating debt indicators.
The International Monetary Fund claims the country’s GDP grew less and debt widened in 2015. A minor economic recovery is expected this year.
Expenditure was down 62.5%, in January from a year ago. Meanwhile, spending by foreigners during trips to Brazil climbed 14.4%.
In the third week of February, Brazil’s exports outweighed imports by USD 565 million and increased comparatively with the second week.
A poll of financial institutions by the Brazilian Central Bank shows that the Gross Domestic Product is expected to shrink 3.4% this year.
Arab public and private sector leaderships will convene to discuss current problems and financial perspectives for the region on April 13 and 14.
An exhibition targeting small businesses in São Paulo will feature spaces for business and training. The Arab countries will be one of the topics on the agenda.
The Brazilian Ministry of Planning announced a USD 5.8 billion cut in an attempt at securing a primary surplus worth 0.5% of GDP at the end of the year.
Revenues from exports to the top two Arab buyers of Brazilian shoes increased in January from January 2015, industry association Abicalçados reported.
