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.
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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.
The United Nations High Commissioner for Refugees estimates that 60 million people, including asylum applicants, internally displaced people and refugees, will have left their homes to flee conflicts by the end of this year.
An index measured by the Brazilian Central Bank shows a decline in the economy in October from September and a 6.19% drop from October 2014.
The UN’s Economic Commission for Latin America and the Caribbean believes Brazil will hold back Latin America’s performance and that its Gross Domestic Product will contract anew in 2016.
Report by the International Monetary Fund indicates an improvement in the macroeconomic situation of the Arab country. Prospect of improvement is driven by the agriculture and construction sectors.
The Brazilian state-run oil company produced 1.023 million barrels of oil equivalent per day in November, a 1.8% increase over October.
