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asouviron

Digital media consultant and journalist. Passionate about history.

Brazil economy could fall 7%, deficit top 11% of GDP

Brazil’s economic growth and fiscal outlook this year are shaping up to be worse than official government forecasts, making a return to austerity and reforms next year all the more pressing, said Treasury Secretary Mansueto Almeida. He added that the public sector primary deficit this year excluding interest payments could reach R$800 billion ($152 billion), or more than 11% of gross domestic product, while the economy is set to shrink around 6-7%.

European investors threaten Brazil divestment over deforestation

Seven major European investment firms told Reuters they will divest from beef producers, grains traders and even government bonds in Brazil if they do not see progress in resolving the surging destruction of the Amazon rainforest. The rising threats from investors with more than $2 trillion in assets under management, including Finland-based Nordea and the UK’s Legal & General Investment Management (LGIM), show how the private sector is taking global action to protect the world’s largest rainforest.

Brazil delays 2020 energy auctions due to Coronavirus

In Brazil, the Coronavirus crisis has resulted in a delay in the country’s energy generation and transmission auctions (the A-4 and A-6 auctions) that were scheduled for May 2020. This means Brazil’s three-year energy plan has been disrupted and the Ministry of Mines and Energy will have to rework the strategy.

Sao Paulo preparing plan for phased economic opening after quarantine

A phased plan to reopen Sao Paulo’s economy should be announced today (Wednesday 22 April) by the state government, to be implemented as of May 11th. When the quarantine was extended last week, the Covid-19 Crisis Management Committee began to focus on a plan to determine which sectors and which regions of the State of São Paulo could gradually return to operation.

Brazil soybean exports up 28% in April so far

Brazil exported 9.16 million mt of soybeans in the first three weeks of April, up 28% month on month, according to a report by the Brazilian foreign trade department. Shipments from Brazil rose 14% year on year to 18 million mt in the first quarter of 2020, with almost 74% of them going to China, the trade department said. Analysts said Brazil could export over 12 million mt of soybeans in April.

Brazilian Ethanol Producer Appoints MiX Telematics to Monitor its Fleets

MiX Telematics has confirmed that one of Brazil’s largest ethanol and sugar producers have appointed the company to assist in modifying driver behaviour and reducing vehicle collisions. The major industry player accounts for 10% of ethanol supply in Brazil; grinding 27 million tons of sugarcane in one harvest year, resulting in the production of 2.1 billion litres of ethanol.

Brazil considers further flight cuts as coronavirus crisis bites

Brazil’s government is discussing with the country’s main airlines further reducing a minimal flight schedule implemented due to the coronavirus crisis as travel demand remains close to zero. A study by Brazil’s government found that there are too many empty or close-to-empty flights in the current schedule. The country’s three main airlines, LATAM, Gol and Azul, are also bleeding cash, like their peers around the world, with most of their fleets grounded.

Volkswagen in Brazil to keep factories closed through April, no decision for May

Volkswagen AG said on Monday it will keep its factories in Brazil, South America’s top auto producer, shut through the end of the month, but that a decision has not been made on whether it will reopen them in May or later. The automaker has just reached a tentative deal with its unions that will keep workers net salaries intact, Volkswagen said. Gross salaries will be reduced but Brazil’s government will help make up the difference with subsidies.