Projections by the International Monetary Fund also estimate a deficit for 2024 due to the slowdown in economic activity and increased public spending.
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The IMF expects a GDP growth rate lower than in 2022 but still at a “strong” pace. Inflation is slowing down and international reserves are “comfortable.”
This year, shipments abroad are expected to record a 6.8% expansion over 2022, according to ABPA data through November. Iraq became Brazil’s 10th main importer this year. The UAE was the 2nd leading buyer, and Saudi Arabia the 4th.
Ports and Airports Minister Silvio Costa Filho announced the first step of the air transport program in Brazil, with an increase in the number of airports and a reduction in ticket prices.
A surge in arrivals is anticipated to hit during the last two weekends of the year. A spike is expected on December 22, welcoming an estimated 279,000 passengers.
Decision from Cairo to open fish and seafood market brings new business opportunities for the industry due to the local demand. The Arab country could reexport them to its African and Middle Eastern partners.
According to the Fund, the North African country is expected to close the year with 9.2% inflation, pressured mainly by food prices.
The institutions announced a USD 4.5 billion debt relief for the North African country in a joint statement. The IMF approved another disbursement of USD 9.3 million and is considering a three-year credit arrangement worth USD 100 million.
A Mission organized by LIDE and the Arab-Brazilian Chamber will bring Brazilian and Saudi companies together to promote business and investments.
Data released by the National Institute of Statistics revealed a 5.28 billion deficit year to date through November. The result represents a drop compared to the last year’s numbers.
Ricardo Alban, president of the Brazilian Confederation of Industry, spoke about the challenges of what he called “the neo-industrialization of Brazil.” An event held by the CNI in Dubai brought together politicians, authorities, and businesspeople. The Arab-Brazilian Chamber signed a MoU with the entity aimed at positive agendas for COP30 in Belém.
Data from government statistics agency IBGE showed that from July to September services and industry grew by 0.6% each, while the agricultural sector contracted by 3.3% from the second quarter.
Carlo Pereira and a group of Brazilian businesspeople visited the headquarters of the Beeah Group in the emirate of Sharjah (5). The Arab group works in various industries combining sustainability and digitalization.
Financial institutions in the Arab country committed to mobilizing AED 1 trillion to sustainable projects by 2030. The announcement was made on COP28 Finance Day in Dubai.
