Entradas Etiquetadas con ‘Brazil’

11
Feb

Brazil makes a move on fiscal policy

Escrito el 11 Febrero 2011 por Gonzalo Garland en América Latina

The Great Recession of 2008 and 2009 had a significant impact on Brazil, despite a potential “decoupling” from what was happening in the developed world, as the economic debate argued around that time. In fact, in the BRIC group many would say that there was only a certain degree of decoupling in the cases of China and India, whose economies slowed down but continued to grow at rates above  9 and 5% respectively.

Brazil’s economy stalled, however, and decreased a couple of decimal points, while Russia’s decreased almost 8%. Because of this crisis, Brazil applied an expansionary fiscal policy, as did so many countries in the world, increasing expenditures and extending tax benefits. 2010 turned out to be a much better year, with a strong recovery in production -higher than 7%. But for both local and global reasons, inflation has started to increase again.

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