The funds will be used for boosting exports, especially those by small and medium businesses.
Browsing: Economy
Estimate for 2014 was presented by Foundation Getúlio Vargas. Year-to-date through May the trade balance posts a deficit of US$ 4.85 billion.
In the second week of June, Brazil posted a US$ 873 million surplus as a result of US$ 4.704 billion in exports and US$ 3.864 billion in imports.
Index measured by Brazil’s National Confederation of Industry stood at 47.5 points in June, the lowest score since January 2009.
Analysts have revised down from 1.44% to 1.24% the growth estimate of Brazilian economy this year, according to the Focus bulletin of the Brazilian Central Bank.
High interest rates and inflation have caused the index to decline in June from May, according to the National Confederation for Trade.
Sales from Brazil to Arab countries were down 9.5% year-to-date through May and in May alone. Shipped volumes of the leading products dropped, including poultry, ores and sugar.
Sherif Ismail, the country’s Oil minister, has announced that output is expected to increase by over 14 million cubic metres per day.
Survey by the Foundation Getúlio Vargas shows that companies expect to spend less in comparison to previous 12-month period.
According to the International Monetary Fund, tourism and real estate sector are ensuring the economic recovery of the country.
The auto parts manufacturing company from Rio Grande do Sul has inaugurated a distribution centre in Dubai to serve local clients. The enterprise plans on providing faster services and entering new markets.
The Dubai-based airline has cancelled the purchase of 70 units of the A350 model aircraft, which should start flying toward the end of this year.
Country signed agreement with International Trade Centre. According to document Brazil will introduce measures to reduce bureaucracy and time spent in export and import operations to African nations.
The World Bank has revised down its growth estimate for developing economies from 5.3% to 4.8% and recommends further structural reforms.
