Each Friday, through the Brazil Portal feature “The Week in Review”, the Brazil Institute will highlight Brazil’s news topics in one concise summary.
Economic updates from Brazil this week were characterized by a flood of both good news and bad news, indicating that the domestic fiscal picture remains murky. Some of the more negative aspects included falling job creation rates, decreasing federal tax revenues, dwindling consumer confidence, and a social security program plummeting deeper into the red. However, these less-than-positive developments are assuaged by some good news: though President Dilma Rousseff is apparently “very worried” about the economy, central bank chief Alexandre Tombini predicts an upturn in the second half of the year. The Brazilian economy is also buoyed by foreign investment, which continues to increase despite the slowdown, increased interest from venture capital firms, not to mention the profits from a gargantuan corn sale to the drought ridden United States. The dichotomy of positive and negative economic global outlooks is highlighted in a translation of a piece from Folha de S.Paulo, in which Carlos Lins da Silva analyzes the mixed-message on Brazil and how it is affecting the nation’s populace.
With regards to US-Brazilian economics, the Miami Herald reports that despite the Brazilian slump, trade between Florida and Brazil continues to expand . This fact coincides with the growing campaign to waive visas for Brazilian visitors, a charge led by Florida politicians. The Miami-Dade area is already significantly culturally connected to Brazil, and politicians there believe the visa waiver would bring jobs and stimulate the economy.
As athletes from all over the world congregating in London this week for the Olympics, Dilma Rousseff was among them. The Brazilian President is in England attending the opening ceremonies, and will meet with David Cameron later this week to discuss scientific innovation and the economy. The Games’ commencement has inspired commentary by Brazilian sports Minister Aldo Rebelo on how the 2016 Rio Games will compare.