Amid reassessments of the impacts of the new coronavirus pandemic on the Brazilian economy, the Central Bank (BC) updated its projection for Gross Domestic Product (GDP) in 2020. The expectation for the economy this year has gone from a decline of 6.4% to a contraction of 5.0%. The new estimate is included in the Quarterly Inflation Report (RTI).
Source: UOL Economia
The National Monetary Council (CMN) has increased the gross income limit for micro-entrepreneurs, which can be covered by targeted productive micro-credit, whose rate has a ceiling of 4%. The income limit has been raised from R$ 200,000 ($38k) to R$ 300,000 ($57k) per year.
Owner of the largest extension of the Amazon Forest, Brazil is also a leader in social and environmental conflicts in the region. A survey comparing the situation of four countries showed that, of the 1,308 confrontations recorded in 2017 and 2018, 995 occurred on Brazilian soil. The main cause of the conflicts is agribusiness, which involves both livestock and soybeans and other monocultures.
Source: Ambiente Brasil
The BTG Pactual zeroed out last year’s carbon emissions. The financial institution offset 13,000 tons of CO2 through carbon credits purchased from a forestry project in Uruguay. The bank has also taken steps to reduce the carbon footprint of its activities, using digital media to hold meetings and installing solar panels in its office in Medellin, Colombia.
Brazil’s coffee super crop is beginning to translate into record shipments. Green coffee exports are expected to exceed 3.5 million bags this month, the highest volume ever recorded for September and the highest since December 2018, said Carlos Alberto Fernandes Santana, director of Empresa Interagrícola.
Source: Money Times