Financial analysts cut from 3.01% to 3% their forecast for growth of the Brazilian economy in 2013, according to a research by the Central Bank of Brazil. For 2014, the estimate remains at 3.5%.
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The former economic policy secretary to Brazil’s Ministry of Finance, José Roberto Mendonça de Barros, will speak on domestic and international economic perspectives at the offices of the Arab Brazilian Chamber of Commerce.
Activity declined in February from January according to figures from the Brazilian Statistics Institute. Production was up only in the states of Rio Grande do Sul, Santa Catarina and Goiás.
The Union of Arab Banks claims that deposit and loan portfolios should reach US$ 3 trillion this year, up US$ 400 billion from 2012.
According to the industry association Abraciclo, the 6.4% increase in March from February indicates that activity is picking up.
Net cash inflow into savings accounts stood at R$ 5.96 bn (US$ 2.94 bn) in March in Brazil, the highest-ever result for the month and the highest so far this year, according to the Brazilian Central Bank.
Sales reached 284,000 vehicles in Brazil in March, as against 235,000 in February. In comparison to March last year, however, there was a 5.5% drop.
The vice president at the company, Ram Menen, stated that worldwide the sector is living deceleration. The exception is Africa, which is growing.
In January and February 2013, the terminal handled 15.5 million tonnes of cargo, up 15% from January and February 2012. The Port has been receiving larger ships.
Revenues from Brazilian exports to countries in the region amounted to US$ 2.2 billion in January and February. Imports stood at US$ 1.46 billion, up 20%.
The country sold primary products with lower added value than in February. The movement was fostered mainly by metals, which includes iron ore and bauxite, among others.
Inbound US dollars exceeded outbound by US$ 391 million in March in Brazil, countering January and February results.
The government aims to increase the total the country has in foreign currency from US$ 13.5 billion to US$ 16 billion by late June. An IMF delegation should arrive in Cairo on Wednesday. Total of the agreement may change.
Production of capital goods grew from January to February this year. It was the only industrial sector to present a positive result in the period.
