Economic Profile - As of late 2010, Brazil’s economy is the largest of Latin America, the second largest in the Americas (after the U.S.) and among the ten largest in the world. From 2000 to 2012, Brazil was one of the fastest-growing major economies in the world, with fast expanding business opportunities and an average annual GDP growth rate of over 5%, with its economy in 2012 surpassing that of the United Kingdom.
However, its growth decelerated in 2013 and the country entered into a deep recession in 2014. Per capita GDP decreased 4.4% in 2016 for a combined drop of almost 10% over two years. While unemployment stood at just 6.5% as recently as 2014, it ended 2017 above 13%. From 2017, however, the economy started to recover again, with a 1% GDP growth in the first quarter. In the second quarter the economy grew 0.3% compared to the same period of the previous year, officially, but slowly, exiting the recession. According to OECD forecasts, Brazil’s GDP growth would pick up to 2.2% this year and 2. 4 % in 2019. Unemployment has also turned around falling by over a percentage point from its 14% peak earlier this year. Lower inflation and interest rates will further support a gradual economic recovery.
The long and deep recession seems to be over, but more needs to be done. Brazil remains a highly unequal country, recent corruption allegations have revealed significant challenges in economic governance and the situation of its fiscal accounts is also challenging, with high and rising public debt. Gross public debt has in fact increased by approximately 20 percentage points of GDP over the last 3 years and stands around 75% of GDP. In 2016, Brazil spent 16% of its budget on interest payments on government debt, which is held by investors, business and upper middle-class savers. This was more than on education and health (9%). According to the 2018 survey on Brazil, published by the OECD, interest payments were the second biggest outlay in the budget, beaten only by social benefits (35%), which were mostly pensions. Given that Brazil’s pension system benefits disproportionately relatively better off public servants, Brazil’s budget actively benefits the wealthy over the poor and leaves no money for investment. Without an urgent reform (expected by 2019), pension expenditure will more than double by 2060, leading to unsustainable fiscal dynamics....READ MORE
The Ministry of Health and Prevention (MoHAP) has surpassed the Diabetes early detection goal, carrying out more than 150,000 screenings nationwide, above the target of 1...
Children progress and learn to communicate at different rates. For some children, communication can be an unexpected hurdle that requires special attention. Developmental...
Earlier this year, Samsung established the era of mobile AI with the launch of the Galaxy S24 series and committed to introducing Galaxy AI1 to a wider range of devices....
Grünenthal today announced the acquisition of US-based Valinor Pharma, LLC (“Valinor”) and its product Movantik® (naloxegol), with a total deal value of approx. 0 million...
Economic Profile - As of late 2010, Brazil’s economy is the largest of Latin America, the second largest in the Americas (after the U.S.) and among the ten largest in the...
Japan, located in Northeast Asia, is an archipelago set between the Sea of Japan to the west and the Pacif Ocean to the east. It shares no contiguous land borders with an...
The World Health Organization (WHO) and UN partners have released the first progress report for the UN Decade of Healthy Ageing. The report highlights efforts to improve...
Equity is a value in the Danish healthcare system, and healthcare is an important part of its welfare system, resulting in a heavily financed public funds system, experie...
Definition Health has announced that part of its total digital surgical solution, initially developed for patients in the NHS and private hospital sector, is now being de...
A virtual marketplace leading your business into the future
