Dollar outflows from Brazil have exceeded inflows by US$ 2.6 billion in the first week of December this year, according to figures from the Central Bank.
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The Brazilian balance of trade showed a US$ 275 million deficit last week, following a surplus in November.
Brazilian exports of agricultural products to the region netted US$ 850.2 million in November this year. Foreign sales to Africa, which is also home to Arab countries, were down 22.5%.
The secretariat in charge of the sector has announced that five new private terminals – two located in the state of Rio de Janeiro, two in São Paulo and one in Santa Catarina – will be eligible for concession.
Brazilian financial institutions have revised down their 2013 GDP growth projections. The new growth forecast is 2.35%, as against a prior estimate of 2.5%.
The 19th edition of the event will take place from January 2nd to February 2nd in the emirate. Last year, 4.3 million consumers participated in the event, spending a combined US$ 4 billion.
The minister to the Secretariat for Civil Aviation has said there will be no further auctions, and that only the five airports which have already been auctioned will be delivered to the private initiative.
Year-to-date through November, 98,000 units were shipped abroad, as against 95,500 units in the same period of 2012. Still, Brazilian production has declined and the industry doesn’t entertain high hopes for 2014.
The deputy managing director at the Fund, Min Zhu, visited the country this week and said it is necessary to generate private sector jobs. He said that the challenge is the same for other Arab countries.
The issue was outlined at the Brazil-Arab Countries Economic Forum in the Brazilian federal capital. Arab airlines are unable to expand their routes due to lack of infrastructure in Brazil.
Executives, business leaders and diplomats convened at a forum in Brasília and discussed changes required in order to improve trade relations. A document will be submitted to the governments involved.
Dollar inflows to Brazil exceeded outflows by US$ 2.54 billion in November. Year-to-date, however, there is a US$ 3,481 billion deficit.
Output increased in October this year from October 2012, according to Brazil’s Petroleum Agency. October-on-September, however, there was a 0.7% decline.
A delegation from the International Monetary Fund visited the North African country in late November and advised on a tighter fiscal policy.
