The negative foreign trade balance stemmed from US$ 19.617 billion in exports and US$ 20.556 billion in imports.
Browsing: Economy
The foreign exchange flow showed a US$ 3.5 billion surplus in September, according to the Brazilian Central Bank. Year-to-date through September 26th, a US$ 2.86 billion surplus was recorded.
A ruling has been published in the Official Gazette allowing non-residents of Brazil to use bank accounts in the country to make investments in the Brazilian financial and capital markets.
The public sector deficit stood at US$ 5.93 billion in August. The US$ 4.1 billion year-to-date surplus falls short of the government’s target.
Brazil’s Finance minister Guido Mantega has announced that tax credits will be given to manufactured goods exporting companies as of October. The goal is to increase foreign sales.
Technicians from the International Monetary Fund claim the country is doing well economically, but must reduce dependency on oil and cut spending.
Six enterprises from Bahrain, Saudi Arabia and Emirates are in the World Economic Forum’s community of global growth companies, i.e. businesses that have exhibited above-average performance.
The Brazilian Central Bank has lowered its growth estimate for Brazil’s Gross Domestic Product this year to 0.7%. Previous estimate stood at 1.6%.
Whoever takes office will need to put Brazil back on growth track. For such, they will need to invest in infrastructure, embrace sustainable development, increase legal safety, cut taxes and make reforms.
The Central Bank has maintained its forecast for the year. In the 12-month period ended August, credit was up 11.1%. The government’s credit incentive measures have prevented further decline.
The member of the World Bank Group is providing a US$ 2 million loan to the Lebanese Association for Development. The amount will be used to expand small business and women-run companies.
The event will take place in October, with backing from the Brazilian Embassy in Beirut. The Levantine Basin boasts potential in oil and gas exploration, but the territory is under dispute.
Brazil’s debt declined for the second straight month due to maturation of bonds. During the period, US$ 1.65 billion were saved, according to the National Treasury Secretariat.
As of 2015, airlines will have to submit data on each passenger disembarking in Brazil. The action is aimed at punishing those who transport values illegally or smuggle drugs, weapons or medicine.
