Brazil: Staff Report for the 2014 Article IV Consultation
May 12, 2015
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This 2014 Article IV Consultation highlights that Brazil’s growth has decelerated in recent years. The boost from decade-old reforms, expanding labor income, and favorable external conditions, which enabled consumption and credit-led growth and underpinned sustained poverty reduction, has lost steam. Investment has been sluggish, reflecting eroding competitiveness, a worsening business environment, and lower commodity prices. The IMF staff projects negative output growth of 1 percent in 2015, with some drag from tighter fiscal and monetary policies and from the cuts in investment by Petrobras, adding to the downward momentum in activity carried over from 2014.
Subject: Banking, Currencies, External debt, Fiscal policy, Fiscal stance, Inflation, Money, Prices, Public debt
Keywords: central bank, consumer confidence, core inflation, CR, Currencies, exchange rate depreciation, financing, Fiscal stance, GDP, Global, Inflation, ISCR, monetary policy, Policy lending, short-term debt
Pages:
98
Volume:
2015
DOI:
Issue:
121
Series:
Country Report No. 2015/121
Stock No:
1BRAEA2015001
ISBN:
9781484380758
ISSN:
1934-7685
