The slight economic growth in Brazil didn’t relieve the concern that it’s facing a terrible recession. The economists had predicted that Brazil’s consumption-led economy had been exhausted and this was confirmed by a decline in investment last year. There is also another concern that Brazil has an excessive reliance on overstretched consumers.
The government is trying to correct the growing budget deficit and attract private sector investment as the government has been spending a lot to retrieve the property of the economy. Nonetheless, the situation is complicated by the corruption scandal engulfing Petrobras, the state-controlled oil company. It is said that the executives at the oil producer conspired with the country’s top politicians and construction firms to cream billions of dollars off Petrobras’s contracts to fund bribes and political campaigns
Click here for the news.
沒有留言:
張貼留言