The government of the Arab country hopes that the commodity’s low prices will help reduce the budget deficit already in the 2015/2016 fiscal year.
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Such is the Brazilian Central Bank’s 2016 recession forecast, based on a poll of financial institutions. The estimate for 2015 remained flat at 3.7%.
The Summer 2016 collection of the Brazilian beachwear fashion brand was inspired by the Moroccan beach town. Tapestry, spices and local nature were some of the elements used for the creations.
Expansion of highways, railways and a new airport will be carried on to increase the country’s transportation capacity.
The Brazilian Central Bank released new Gross Domestic Product (GDP) projections this Wednesday (23). Next year, 1.9% shrinkage is expected, with agribusiness growing 0.5%.
According to the Letter of Conjuncture by economic research institute Ipea, indicators of the Brazilian economy remained in decline from July to September. Good news came from oil and gas output and mineral extraction. Trade balance had a good performance.
The estimate for 2016 is from the Brazilian minister of Development, Industry and Foreign Trade Armando Monteiro. He also said mineral commodity prices are likely to stay flat next year.
Last week, Brazil exported more than it imported, generating a positive result for the trade balance. Year-to-date until December’s third week, there is a surplus of USD 16.6 billion.
In November from October, Brazil’s debt widened from BRL 2.64 trillion to BRL 2.71 trillion (USD 661.9 billion to USD 679.4 billion), the National Treasury Department reported.
President Dilma Rousseff said, at the Mercosur summit, that the strengthening of the bloc depends on the adoption of more agile trade cooperation methods.
Deficit-to-GDP ratio will be 2.66% at USD 41 billion next year, based on Brazilian Central Bank projections. In 2015, the deficit is expected to be 3.48% of GDP, at USD 62 billion.
Financial institutions surveyed by the Brazilian Central Bank raised their estimated inflation rate for 2015, which stood at 10.61%. For next year, the inflation rate is expected to be at 6.87%.
International Monetary Fund technicians met with local authorities to discuss the progress made and the challenges facing the economy, and suggested additional financial support.
Sudan’ ministry of Finance announced it will not perform new cuts in fuel subsidies until international oil prices decline again.
