Agreement between Brazil and India could increase exports by $21 bn

The commercial approximation between Brazil and India has been accelerating since 2004 and a study by the Institute for Applied Economic Research (Ipea) indicated that an agreement between the two countries would result in an increase of $21 billion in Brazilian exports. In this scenario, the Foreign Trade Secretary of the Ministry of Economy, Lucas Ferraz, highlighted the strategic relevance of India as a trade partner in the global scenario.

Source: Portal do Agronegocio

Water crisis threatens inflation and GDP, government says

The brewing water crisis in Brazil is a risk that cannot be ignored and may impact the economy and inflation,
Special Secretary of Finance Bruno Funchal said Monday in a hearing in the Senate. While commenting on the prospects for the economy, Mr. Funchal said there is no doubt that the faster mass vaccination, the better GDP growth will be this year and next. Vaccination, growth, and fiscal improvement are closely linked, but there are risks ahead, according to him.

Source: Valor International

With overdue payments of $33.1 mm, Brazil is second largest debtor at WHO

Brazil remains the second largest debtor to the World Health Organization (WHO) with arrears of $33.1 million from 2019-2020, according to data from the Ministry of Economy. This year, Brazil has made four instalments of payments, totalling just over $2 million of 2019-2020 arrears. For this year, it has an invoice of $15 million to pay in the entity. One portion of the debt is in dollars and another in Swiss francs.

Source: Valor Investe

Brazil’s foreign trade retracted above the world average in 2020

The covid-19 pandemic has impacted Brazil’s trade with other countries above the world average. Last year, the trade flow (sum of imports and exports) fell 8.2%, according to a survey by the National Confederation of Industry (CNI), based on recent figures from the World Trade Organization (WTO). The variation exceeds the shrinkage of 7.6% in world trade in 2020.

Source: Portal do Agronegocio

Ipea revises projection for official inflation from 4.6% to 5.3% in 2021

The Institute for Applied Economic Research (Ipea) has revised its forecast for IPCA (Amplified Consumer Price Index) inflation in 2021, increasing from 4.6% to 5.3%. The index is calculated by the IBGE (Brazilian Institute of Geography and Statistics) and used as a reference for the inflation target system pursued by the Central Bank.

Source: UOL Economia

First quarter balances show that economic recovery is real

The Brazilian economy is recovering from the strong impacts of the coronavirus pandemic, and the proof is the balance sheets released by companies in recent weeks. The conclusion is from Inter Research, the analysis arm of Banco Inter. The recovery was seen in various sectors, with emphasis on exporters of commodities, which continues to benefit from the resumption of global demand and, consequently, the rise in prices.

Source: Money Times