Campo Alegre Artisans Association, in the state of Minas Gerais, exports clay items to the Netherlands and plans to enter other foreign markets.
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The country needs the money to meet short-term commitments. The International Monetary Fund (IMF) warns authorities of the need for structural reforms in the local economy.
The surplus was the result of trade operations, as the financial movement registered a deficit. Brazilian foreign currency reserves rose to US$ 365 billion.
The index which monitors the average prices of internationally priced primary goods exported from Brazil increased by 2.67% in March, according to the Central Bank.
Measures for support to foreign trade are part of the package presented by the government of Brazil on Tuesday. Among them is a new type of financing to benefit sales through trading companies.
The federal administration announced production fostering measures in Brazil. These include broader tax breaks on companies’ payrolls and lowered Brazilian Development Bank interest rates.
The bank plans to take the Exim Automático program, for export credit, to Africa. For the time being, the line for purchase of Brazilian capital goods is available in countries in Latin America.
Projects implemented in Brazil received 28.2 billion reals (US$ 15.4 billion) worth of financing last year. Transport and logistics was the industry with the highest volume of funds.
The figure was the result of US$ 21 billion in exports and US$ 19 billion in imports, according to information supplied by the Brazilian Ministry of Development, Industry and Foreign Trade.
Financial market analysts have once again lowered their economic growth estimate, which has gone from 3.23% to 3.2% in 2012.
International Monetary Fund report lauds the African country’s macroeconomic policy management, but claims that maintaining budget discipline will be a challenge.
A veterinarian from Bauru, Omar Fayad (picture) releases the second edition of an Arabic-Portuguese dictionary of colloquial terms to help travellers communicate in Lebanon, Syria and Palestine.
Event is due April 17 and 18 in London. The goal is to attract investors into the oil refining industry. At present, the country needs to import oil derivatives.
The public sector had a primary surplus of US$ 5.1 billion in February. It is the highest ever result for the month since the Central Bank started keeping track of results, in 2001.
