Brazil Economy

Lula promises public works in Brazil to create jobs, boost economy

Brazilian President Luiz Inacio Lula da Silva has promised that his government will promote public works throughout the country to create jobs and boost economic growth

Lula da Silva's efforts to boost spending in Brazil rattles markets

On the campaign trail, Luiz Incio Lula da Silva promised to sustain a massive welfare programme, increase the minimum wage and boost health and education spending. Now, Brazil's president-elect is trying to make good on those pledges -- and investors are showing concern. Da Silva's transition team on Wednesday night presented Congress with an outline of a proposal to skirt a constitutionally imposed spending cap by creating a carve-out for welfare. Then, at the climate talks in Egypt on Thursday, he reiterated that he pays little heed to whether his plans to lead a socially responsible government might cause jittery speculators to sell off. When trading opened on Thursday, Brazil's currency slid to its weakest level against the dollar since July and the benchmark Bovespa stock index fell more than 2.5 per cent, before trimming losses hours later. Traders have begun pricing in interest-rate hikes next year rather than cuts, as da Silva's proposal "confirmed (fiscal) risk that before .

Why even a leftist govt under Lula may not restore Brazil's forests

A sharp left-right dichotomy is a common way to think about the stakes in the runoff poll on Oct. 30. Still, as with the candidates' economic platforms, their forest policies have a lot more in common

Inflation to exceed official target ceiling in 2022: Brazil's central bank

For 2022, the official inflation target was set at 3.5 per cent, with a margin of tolerance of 1.5 percentage points

Brazil sacks IMF office over estimate complaints, says 'not useful anymore'

Economy Minister Paulo Guedes said on Wednesday Brazil won't recognize the IMF's office starting from June 30, when the current representative is due to be replaced

Brazil's Petrobras ups investment plan to $68 bn, lowers output forecast

By 2026, Petrobras said it sees oil production of 2.6 million barrels per day.

Jair Bolsonaro emerges as a risk factor for Brazil IPO pipeline

Bolsonaro's recent confrontation with Brazil's Supreme Court amid an economic crisis has raised fears over the country's reform process and threatens to poison the environment for 25 IPOs-in-waiting

Brazil's striker Gabriel Jesus out of Copa America final due to suspension

Brazil striker Gabriel Jesus is out of the Copa America final because of a red card he received during his team's 1-0 quarterfinal win over Chile

India, Brazil have competing views on inflation: One of them must be right

Which of the two approaches proves most effective will shape the lessons a generation of officials take from the pandemic.

India's, Brazil's Q1 GDP data suggest strong post-pandemic rebound: Moody's

India's and Brazil's first-quarter 2021 real GDP data show a strong rebound in both economies following a contraction last year of 4.4% in Brazil and 7.1% in India, Moody's Investors Service said

At 1.2%, Brazil's economy grows more than expected in first quarter

Brazil's economy grew more than expected in the first quarter of 2021, continuing its rebound from pandemic recession as many declined to hunker down amid COVID-19's brutal second wave

Brazil offers global investors unique opportunities, says Jair Bolsonaro

Brazil offers investors around the globe "unique opportunities", thanks to its abundance of resources and strong legal framework, President Jair Bolsonaro said

Brazil Supreme Court allows probe of Bolsonaro's coronavirus response

The court is also weighing the political future of former president Luiz Incio Lula da Silva, a potential rival to Bolsonaro.

Brazil emerging from recession, challenge to expand productivity: Govt

Although official economic growth figures have yet to be released by the National Geography and Statistics Institute, the bank's index is an indication

Brazil's GDP probably crumbled 9.4% in Q2 under coronavirus spread: Poll

Brazil has registered more than 3.6 million cases of the virus since the pandemic began, the world's worst coronavirus outbreak outside the United States.

World coronavirus dispatch: Brazil No. 2 in death toll, goes past UK

Americas bear brunt of disease, European airlines sue UK over self-isolation rules, pandemic may spur hike in child labour -round up of Covid-19 news across the globe

Brazil denies currency manipulation as Trump hints of fresh tariff

Bolsonaro, who has styled himself as a close ally of Trump, said he is "not disappointed" with the U.S. President yet, because the proposed tariffs have not become effective

Brazil could look like India in next 10 yrs if reforms continue: Swiss bank

Latin America's largest economy might follow India's path, seeing an accelerated, consistent pace of growth