Decline in federal revenues due to economy downturn drove the government to slash estimation of the public sector’s surplus to 0.15% of the GDP in 2015.
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The IBRD revised down its estimation on metals, agricultural products and the energy sector. Forecast for the average price of crude oil, however, went up from US$ 53 to US$ 57 per barrel.
The current account deficit stood at US$ 2.547 billion, below the Brazilian Central Bank’s forecast. The negative balance was 50% lower than the one registered in June 2014.
Dollar outflow overcame inflow up to 17th of this month, according to the Central Bank. Financial sector was responsible for the deficit.
The event will happen August 27th, in São Paulo, and will be presented by Ângela Martins, regional manager for Latin America of the National Bank of Abu Dhabi. The meeting is only for members of the Arab Chamber.
The New Development Bank (NDB) was created by Brazil, Russiam India, China and South Africa. It started operations this Tuesday (21th) in Shanghai and will fund infrastructure projects.
Lili Bag closed a deal with a retail chain from Saudi Arabia in a fair in Italy last month. Bags and backpacks should arrive in the Arab country between August and September.
Survey by the National Confederation of Industry shows a decline of the indicator that measures output and number of jobs in the sector’s companies. Businessmen are ever more pessimistic.
Last week’s balance sheet is the result of Brazilian exports of US$4.667 billion and imports of US$ 3.472 billion.
Financial institutions’ estimation for 2015 became more pessimistic. Last week, the forecast for the GDP’s contraction was of 1.5%, according to Brazilian Central Bank’s survey.
Acquaclub, from Limeira, entered Jordan’s market with its bikinis, cover-ups and flip flops. Now, the company is planning to go into the United Arab Emirates and Kuwait markets.
China’s State Grid Brazil Holding S/A made the winning bid at the energy auction held by the National Electric Energy Agency at the BM&F Bovespa exchange. The holding will supply 2,550 km of power lines.
Brazil’s economy stood virtually level from May to April. A Central Bank index shows a slight increase, at 0.03%, after two straight months of decline.
According to the international rating agency, the scenario in Brazil will go on influencing corporate results at least until halfway through next year.
