|
|
|
|
Search: 
Latin American Herald Tribune
Venezuela Overview
Venezuelan Embassies & Consulates Around The World
Sites/Blogs about Venezuela
Venezuelan Newspapers
Facts about Venezuela
Venezuela Tourism
Embassies in Caracas

Colombia Overview
Colombian Embassies & Consulates Around the World
Government Links
Embassies in Bogota
Media
Sites/Blogs about Colombia
Educational Institutions

Stocks

Commodities
Crude Oil
US Gasoline Prices
Natural Gas
Gold
Silver
Copper

Euro
UK Pound
Australia Dollar
Canada Dollar
Brazil Real
Mexico Peso
India Rupee

Antigua & Barbuda
Aruba
Barbados
Cayman Islands
Cuba
Curacao
Dominica

Grenada
Haiti
Jamaica
Saint Kitts and Nevis
Saint Lucia
Saint Vincent and the Grenadines

Belize
Costa Rica
El Salvador
Honduras
Nicaragua
Panama

Bahamas
Bermuda
Mexico

Argentina
Brazil
Chile
Guyana
Paraguay
Peru
Uruguay

What's New at LAHT?
Follow Us On Facebook
Follow Us On Twitter
Most Viewed on the Web
Popular on Twitter
Receive Our Daily Headlines


  HOME | Main headline

Brazil’s Economy Still Sluggish
The Index of Economic Activity (IBC) rose 0.42 percent in July, compared with an increase of 0.61 percent the previous month, according to the latest statistics

BRASILIA – The Brazilian government’s stimulus measures have had a limited impact on Latin America’s largest economy, the central bank said Friday.

The Index of Economic Activity, or IBC, rose 0.42 percent in July, compared with an increase of 0.61 percent the previous month, according to the latest statistics.

The IBC posted a gain of 1.24 percent in the first six months of 2012, the central bank said, a figure consistent with analysts’ projections that the Brazilian economy will expand by around 1.6 percent this year.

Finance Minister Guido Mantega acknowledged that global economic woes are hurting Brazil and the government, which initially called for 4 percent growth in 2012, now forecasts an expansion of 2 percent.

After a sharp – but fairly brief – downturn spurred by the world financial crisis in September 2008, the Brazilian economy enjoyed robust growth of 7.5 percent in 2010 before slowing last year to 2.7 percent.

The central bank’s IBC report comes a day after Mantega announced the government’s reduced growth forecast for 2012 and touted a new batch of tax breaks tailored to help agriculture, the pharmaceuticals industry, appliance manufactures and other economic sectors.

President Dilma Rousseff’s administration previously rolled out other measures to spur the economy, such as slashing electric rates by around 20 percent, while the central bank has steadily reduced Brazil’s traditionally high interest rates. EFE


 

Enter your email address to subscribe to free headlines (and great cartoons so every email has a happy ending!) from the Latin American Herald Tribune:

 

Copyright Latin American Herald Tribune - 2005-2015 © All rights reserved