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Moody’s cuts Brazil’s GDP to 1.8% in 2020

Moody’s reduced Brazil’s GDP projection from 2.0% to 1.8% due to the impact of the coronavirus. Moody’s said the coronavirus will hamper economic growth in many countries over the second quarter. According to the agency, the resumption of normal economic activities will depend on how long it will take to contain the global spread of the virus.

Ambev will invest $400 mn in Brazil

Ambev announced that will invest more than R$2 billion ($400 million) in Brazil in the coming months. The funds will go to a malt area in the Southeast, a brewery in the North and a can factory. The company says that the new industrial units will help to release the growth of the premium portfolio, its main expansion line. In 2019 Ambev earned R$12.2 billion ($2.4 billion), an increase of 7.4% compared to 2018.

Coronavirus reduce FDI in Brazil by up to 16%

The advancement of coronavirus around the world can bring down the flow of Foreign Direct Investment (FDI) by up to 15% in 2020. This average reduction was more profound in companies from developing countries like Brazil: – 16%. It is estimated that foreigners have already taken $ 44.7 billion from the São Paulo Stock Exchange this year alone.

Brazil signs military development agreement with US

Brazil and the United States signed an agreement in the military area to develop future projects. The Research, Development, Test and Evaluation Agreement (RDT & E) will cover the way for improving or providing new military capabilities. The Brazilian government hopes to facilitate its access to the North American defence market, as well as to enable the entry of Brazilian products in 28 other NATO countries.

Brazilian chicken meat exports grow 10% in February

Brazilian chicken meat exports grew 10% in February in comparison with the same period last year. Considering all products, between fresh and processed, sales totalled 348.4 thousand tons in the last month, against 316.7 thousand tons in the second month of 2019. February exports generated revenues of $ 553.8 million, a result 5.2% higher than the $ 526.4 million made in the same period last year.

Dollar goes up for the 12th time

The growth remained despite the fact that the Brazilian Central Bank sold $ 3 billion in currency swap. The dollar hit a historic record again this Thursday, reaching R$ 4.67 at the peak of the day, with the Brazilian currency battered along with other risk assets worldwide due to obstinate fears related to the coronavirus. The high is the 12th consecutive. Only in March the currency jumps 3.79% and shoots 15.90% in the accumulated of 2020.

Bovespa closes down 4.65%

The main index of the Brazilian stock exchange, B3 closed in a sharp drop on Thursday (5). The index retreated 4.65%, to 102 233 points, following the negative atmosphere in foreign markets, amid the volatility generated by the uncertainties about the effect of the coronavirus outbreak on global economic activity.