BRASILIA/SAO PAULO (Reuters) - Senior members of Brazil's government now believe the economy will expand less than the official 4.5 percent forecast this year and are bringing internal projections more into line with private-sector estimates of about 3 percent growth, four officials told Reuters.
BRASILIA/SAO PAULO (Reuters) - Senior members of Brazil's government now believe the economy will expand less than the official 4.5 percent forecast this year and are bringing internal projections more into line with private-sector estimates of about 3 percent growth, four officials told Reuters. Brazil's economy is set to expand slightly above the 2.7 percent growth rate of last year despite a barrage of government actions to revive consumption and industry, and an aggressive cycle of interest rate cuts that is driving borrowing costs close to a record low. ...
It's always impossible to know what the trigger for a mass reaction will be in advance. In Brazil, hundreds of thousands of people have been in protest over corruption, bad services, and even the cost of hosting the World Cup.
The trigger was a mere 10-20 cent hike in transportation fares. Cities have rolled back the price hikes but the protests continue.
Hundreds of Thousands Join Brazil Protests
It started off a simple protest in Sao Paulo as a demonstration by students against an increase in bus fares from R$3 to R$3.20, and then quickly morphed into general demonstration of discontent with the nation’s political classes on both sides of the spectrum involving over 200,000 across the country, with those marching on Monday holding placards decrying everything from the enormous sums spent on the World Cup to the treatment by police of protesters last week.
Brasília (AFP) - Brazil's economy exited recession with growth of 0.1 percent in the third quarter, the government said Friday, a tepid result that is nevertheless welcome news for struggling President Dilma Rousseff.
Sao Paulo (AFP) - The growing scandal engulfing Brazilian oil giant Petrobras hit the ruling Workers' Party close to home Thursday as its treasurer was detained over allegations of involvement in a multibillion-dollar kickback scheme.