The Organization for Economic Co-operation and Development claims the country is in recession and estimates the economy should contract by 2.8% in 2015 and 0.7% in 2016.
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Measures announced this Monday are intended to add US$ 16.7 billion to the Brazilian Federal Budget in 2016, between spending cuts and increased revenue collection.
Exports from the country exceeded imports by US$ 888 million last week. In the first week of September there was a surplus as well. Month-to-date, the surplus stands at US$ 1.4 billion.
A Brazilian Central Bank poll of financial institutions points to a 2.55% shrinkage of the economy in 2015. Last week’s forecast had been 2.44%.
Companies Docile and Peccin from Rio Grande do Sul, Brazil, certified their product lines as a strategy to boost sales to Arab countries. Now, they are already looking to break into new markets in the region.
Fine Cosméticos already exports to seven Arab countries and plans to expand its sales in the region. Saudi Arabia buys half of company’s exports, which is in negotiations to work with a new Gulf distributor.
The day after Standard & Poor’s lowered the country’s risk rating, the US currency closed at R$ 3.85 for sale and the São Paulo stock exchange index dropped 0.33%. Petrobras also lost its investment-grade status.
Brazilian exports to the Arab country totaled US$ 15.7 million from January to August. The president of the sector’s association says that sales are “an outlier”, since the sector’s abroad sales is declining.
Watch in this episode a report about the online certification process developed by the Arab Chamber.
The indicator measured by Fundação Getulio Vargas increased 3.6% in the third from the second quarter of this year, but the number of businesses that will rein investments in is higher.
A survey conducted by Fundação Dom Cabral shows that the Arab nation where the most Brazilian enterprises operate is the UAE. They are primarily involved in services provision and trade-oriented subsidiaries.
Decline in global prices of the commodity will impact exports and tax revenues in the Arab country, says the IMF. For the Fund, the nation should focus on the development of the private sector.
The Brazilian Development Bank (BNDES, in the Portuguese acronym) is providing financing for wind farm projects in the states of Ceará, Rio Grande do Norte and Rio Grande do Sul, with 480 MW of capacity.
According to the institute of statistics, industry output dropped from June to July in eight of 14 areas surveyed. The most marked declines occurred in Paraná and Ceará.
