Low commodity prices impacted on Brazil’s performance in 2015. Brazil had a USD 4.99 billion trade surplus with Arab countries, amounting to roughly one quarter of the country’s overall surplus in the year.
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The agreement with the International Monetary Fund does not involve cash yet, only assistance with cutting spending and improving the financial system.
The state-run oil company cut down its investment forecast through 2019 from USD 130 billion to USD 98 billion. The plummeting oil price and the US dollar hike were contributing causes.
Brazil registered a USD 150 million deficit last week, the result of USD 2.922 billion in exports and USD 3.072 billion in imports.
Forecast is from the Focus Bulletin, published by the Brazilian Central Bank with outlooks from financial institutions for Brazil’s economy. Estimation is for a 2.99% shrinkage in 2016.
Arab immigrants are taking part via the Migraflix plataform, which promotes quick courses taught by low-income foreigners living in Brazil. Cuisine, arts, music, dance and fashion are among the topics covered.
Through a statement, the Saudi state oil company said that the measure is part of the reform process being executed by the Arab country.
The index is the highest since 2002 in Brazil. According to a survey, last year, Brazilians paid higher prices for ‘all goods and services categories that make up the cost of living.’
In 2015, Brazilian citizens withdrew BRL 53.568 billion (USD 13.295 billion) in excess of what they deposited into savings accounts, in the weakest performance since 1995.
Over 416,900 units were shipped abroad last year, but revenues slid 8.7% to USD 10.5 billion.
The company announced the purchase of shareholding in frozen food distributor in the Gulf country. Talks over the agreement begun in 2015.
The institution expects a ‘modest’ performance this year, but superior to 2015. Brazil should keep plodding through recession, with growth set to resume only in 2017.
Less than 4 million units were sold last year, against more than 5 million in 2014.
The number of containers handled at Khalifa Port was up 32%. Vehicle traffic increased by 27%. General cargo, bulk cargo and passenger throughput also grew.
