• Categories
  • Archives

IMF Forecasts Puny 3.5% Growth for Brazil and 6.9% for Developing Nations

Economic growth in Brazil will be 3.5% this year and in 2007, lower than the world average, forecasts the International Monetary Fund in its annual World Economic Panorama report that was released this week.

The IMF forecasts average world economic growth at 4.9% for 2006 and 4.7% for 2007. The IMF forecast for average developing nation growth is 6.9% this year. Meanwhile, China is expected to grow 9.5%, India 7.3%, and the African continent 5,7%.

In 2004, world average economic growth was 5.3%, with Brazilian GDP rising 4.9%. In 2005, the world grew 4.8% and Brazil 2.3%.

"There are signs of increased activity in the retail sector and industrial output, along with lower interest rates and moderate inflation, all of which point to higher growth in 2006," says the IMF report.

"To continue the progress made in reducing public debt, it will be essential to resist pressure to slacken fiscal restraints while maintaining a high primary surplus."

ABr

Tags:

  • Show Comments (1)

  • Guest

    Who is surprised ?
    Due to Lula, Brazil missed the world recovery.
    The country had only one view : to export more, and they did.

    Brazil did not do something magic : the demand was external only, and that has nothing to do with the decision taken in Brazil.
    But Lula and his government, daily, proclaim how Brazil is doing well BECAUSE of their policies.
    WRONG ! SIMPLY WRONG !

    In fact Brazil did very poorly internally if one excludes the positive due to the external demand.

    Quite a shame.

Your email address will not be published. Required fields are marked *

comment *

  • name *

  • email *

  • website *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Ads

You May Also Like

Brazil Gerdau Invests US$ 1.4 Billion for Six-Fold Expansion of Siderperíº

Brazilian Gerdau company, the world's 13th largest steelmaker, wants to turn Siderperú, in Peru, ...

Brazil’s Windy City Gets LatAm’s Largest Aeolian Power Plant

The municipality of Osório, in southern Brazil, will possess the largest aeolian (wind power) ...

Brazil Is Sending Technicians to Help Chavez Deal with Energy Crisis

President Hugo Chavez of Venezuela, faced with serious electricity and water problems,  has asked ...

At Half Time, Lula Vows Again to Tackle Brazil’s Social Ills

As the Luiz Inácio Lula da Silva government completes two years in office and ...

Brazilian Congress Flooded with Requests for Ouster of Legislators

The president of Brazil’s Chamber of Deputies, Severino Cavalcanti (PP-PE), said, Wednesday, August 3, ...

Brazil Launches Project with Non-Tropical Exotic Fruits

Micro and small businesses from Rio Grande do Sul state, in the Brazilian South, ...

Brazil: ‘No Nuclear Material Is Being Diverted’

Brazil’s Minister of Defense, José Viegas, declared today that the Brazilian government is offering ...

Brazil’s Scandal du Jour: National Election Board Gets Phones Bugged

The president of Brazil’s National Election Board (TSE), minister Marco Aurélio Mello, is mad ...

4% or 146,000 Workers in Brazil’s Mines Are Children

The World Day Against Child Labor, instituted in 2002 upon an initiative of the ...

Economic Institute Joins the Bears: Brazil to Grow a Mere 2.3%

Brazil’s Institute of Applied Economic Research, IPEA, downgraded the country’s economic growth forecasts both ...