## Brazil: Staff Report for the 2013 Article IV Consultation

_IMF Staff Country Reports, October 23, 2013_

## Source details

**Canonical URL:** [Brazil: Staff Report for the 2013 Article IV Consultation](https://www.imf.org/en/publications/cr/issues/2016/12/31/brazil-staff-report-for-the-2013-article-iv-consultation-40999)

## Other formats

- [Markdown version](/en/publications/cr/issues/2016/12/31/brazil-staff-report-for-the-2013-article-iv-consultation-40999/index.md)
- [Structured JSON version](/en/publications/cr/issues/2016/12/31/brazil-staff-report-for-the-2013-article-iv-consultation-40999/index.json)
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## Bibliographic details
- Published: October 23, 2013
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781616359454.002

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### Macroeconomic overview and near-term outlook
- Brazil’s economy is recovering gradually from the slowdown that began in mid-2011.
- Consumption remained resilient in the year prior to the report, underpinned by low unemployment and broad gains in real wages, although it has slowed somewhat more recently.
- After a protracted period of weakness, investment has begun to recover in recent quarters while business confidence has firmed.
- The economy is estimated to be operating close to potential.

### Inflation and supply-side constraints
- Supply-side constraints have restrained near-term growth.
- Those constraints have exacerbated inflationary pressures.

### Financial conditions and credit
- Financial conditions have tightened.
- Credit growth has remained strong, driven by public banks’ lending.

### Thematic coverage and keywords
- Subject areas: Banking, External debt, Financial institutions, Fiscal policy, Fiscal stance, Inflation, Prices, Public debt, State-owned banks
- Keywords: bond yield, CR, debt, food inflation, Global, Inflation, inflation tolerance band, ISCR, July monetary policy meeting, sovereign bond bond yield, staff appraisal, State-owned banks

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## Content in this bundle

- **Brazil: 2013 Article IV Consultation--Staff Report; IMF Country Report 13/312; July 2, 2013**
  - [Brazil: 2013 Article IV Consultation--Staff Report; IMF Country Report 13/312; July 2, 2013 (Markdown version)](/-/media/websites/imf/imported-full-text-pdf/external/pubs/ft/scr/2013/_cr13312.pdf.md){rel="alternate" type="text/markdown"}
  - [Brazil: 2013 Article IV Consultation--Staff Report; IMF Country Report 13/312; July 2, 2013 (PDF)](/-/media/websites/imf/imported-full-text-pdf/external/pubs/ft/scr/2013/_cr13312.pdf){rel="external" type="application/pdf"}

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_Source: https://www.imf.org/en/publications/cr/issues/2016/12/31/brazil-staff-report-for-the-2013-article-iv-consultation-40999_