Inflated prices of products such as fertilizers and oil increased Brazilian imports in July, diminishing the positive trade balance.
Browsing: oil price
A barrel is going for roughly USD 70, benefiting oil producing and exporting countries. However, Brazil, another producer, is still struggling under the impact of a strong dollar.
Despite low oil prices, Brazil’s state-run company managed to recover from nine months of deficit.
An IMF report urges Gulf Cooperation Council member countries to tailor their fiscal policies to match the commodity’s prices, which are expected to decline in the next two decades.
IMF released its economic outlooks of the Middle East, North Africa, Afghanistan, and Pakistan. The fund asks for reforms that lead to growth so that it may be possible to create jobs amid a slowing global economy, volatile oil prices, and uncertainty around trade tensions.
