Sudan’ ministry of Finance announced it will not perform new cuts in fuel subsidies until international oil prices decline again.
The United Nations High Commissioner for Refugees estimates that 60 million people, including asylum applicants, internally displaced people and refugees, will have left their homes to flee conflicts by the end of this year.
UNESCO declared December 18 the date of Arabic worldwide. On this Friday (18), the organization’s director-general Irina Bokova dedicated the celebration to science and knowledge dissemination.
An index measured by the Brazilian Central Bank shows a decline in the economy in October from September and a 6.19% drop from October 2014.
The organization’s new ambassador in the Brazilian capital Brasília claims trade and mutual investment between Arab countries and Brazil can be worked on.
Ministry of Agriculture issued project with norms for purchases of fertilizers and inputs from abroad and is open to suggestions for the next 60 days. Arab countries supply the product to Brazil.
The UN’s Economic Commission for Latin America and the Caribbean believes Brazil will hold back Latin America’s performance and that its Gross Domestic Product will contract anew in 2016.
Report by the International Monetary Fund indicates an improvement in the macroeconomic situation of the Arab country. Prospect of improvement is driven by the agriculture and construction sectors.
The Brazilian state-run oil company produced 1.023 million barrels of oil equivalent per day in November, a 1.8% increase over October.
The Arab country plans on applying for observer status in the World Trade Organization. At a meeting with the Palestinian National Economy minister in Kenya, the Brazilian foreign minister signaled his country’s support.
The United States currency gained 1.24% on Brazil’s real and the São Paulo Stock Exchange remained virtually flat, at a marginal 0.32% increment. Brazil’s credit downgrade swung the exchange rate.
The IMF says the cheap commodity could mean asset quality and liquidity in the financial system might deteriorate. However, it also says local banks are well-capitalized and prepared to manage risks.
The agency is the second one to revise down Brazil’s rating and says the move comes as a result of recession, adverse fiscal developments and the political scenario.
Brazil’s National Federation of Industry estimates that the GDP will shrink this year and in 2016. Inflation is expected to be 10.5% in 2015 and 6.8% next year.
