Expenditure on international travel reached USD 4.47 billion in the first quarter of the year. The result was fueled by appreciation of Brazil’s currency, the real.
The projection is from the country’s government, which also forecasts that exports will increase by 8%.
The International Monetary Fund expects 3.5% growth in 2017 and 3.6% in 2018, up from 3.1% in 2016. Brazil is seen finding its way out of recession, and growth in the Middle East should lose steam.
Staff from the Fund visited Tunis and reviewed the agreement signed with the Arab country. The health of public finance, job creation and social protection should be priorities for the economy to grow.
The country’s economy grew despite the oil price slump, according to the World Bank. In 2017, however, growth is expected to slow to 1.5%.
Brazilian Central Bank index edged up in February from January. Seasonally adjusted figures showed 0.52% growth.
The organization believes that world trade will grow 2.4% in 2017 and up to 4% in 2018, against only 1.3% in 2016.
Sales declined month-on-month and year-on-year in February, according to the Brazilian Institute of Geography and Statistics (IBGE).
The UN agency opened a training center in Beirut, Lebanon where courses and seminars will be made available to professionals from Algeria, Morocco, Tunisia, Egypt, Jordan, Palestine, and Yemen.
Financial institutions lowered their growth estimate for the Brazilian GDP for this year from 0.47% to 0.41%. The data is part of the weekly survey conducted by Brazil’s Central Bank.
Annual core inflation rate surpassed 30% in February. The Fund’s managing director met this week with the president of the Arab country.
The expansion took place from 2011 to 2015 in Ras Al-Khaimah, United Arab Emirates.