• Categories
  • Archives

Brazilians Save One Quarter of GDP

Between July and September, Brazilians saved the equivalent of nearly a quarter of all the wealth produced in the country during the period.

A study by the Brazilian Institute of Geography and Statistics (IBGE) shows that the economy’s savings rate in the third quarter of the year amounted to 24.5% of the Gross Domestic Product (GDP).

Last year’s third quarter rate was 25.4% of the GDP. Despite the drop, the figure for this year’s third quarter is still the second best result since 1995, when the IBGE began its Quarterly National Accounts series. It is only surpassed by last year’s figure.

Maria Laura Muanis, an economist at the IBGE, thinks that the country’s savings have reached a high plateau.

"All the economic actors, such as families and the government, are saving more," she added.

ABr

Tags:

  • Show Comments (1)

  • Guest

    Quite impossible…..
    With the average brazilian income and your outrageous interests rates.

    OR it is simply the wealthiest minority elite that invest 90 % of their wealth in short term investments at 19 % with no risk….. as guaranteed by the government.

    Because the average citizen with a regular job is borrowing with your consigned credit program with overall interest rates as high as 150 % per year.
    If one borrows at such a high rate, by definition, he could not had saved. Or he would be stupid to invest his cash at 19 % and borrow at 150 % !!!
    And those who dont have a regular job (a high percentage) doubtfully save money as they have difficult time just eating and living !

    Furthermore, if you take an average brazilian wage, minus social deductions, minus very high taxes, minus the monthly cost of living, it is doubtfull that 25 % remains for savings.

    Anyway you take it, if the saving rate is correct, you would not have so much poverty and hunger as you would only go to your banks and take some of your cash to buy food.

    Numbers, logic and your statistics dont match !

Your email address will not be published. Required fields are marked *

comment *

  • name *

  • email *

  • website *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Ads

You May Also Like

Brazil, in Cuba, Lambasts US for Its Interventionist Policies

Brazilian Foreign Minister, Celso Amorim, without mentioning it by name condemned the the United ...

Brazilian Ministers Tell Their Vision of a Sustainable Amazon

Brazil’s Ministers of National Integration, Ciro Gomes, and Environment, Marina Silva, went to the ...

Brazil Exports to Arabs Jump 7%, but Imports Slide 62%

Brazilian exports to the Arab countries generated US$ 716 million in April, an increase ...

Brazil Discusses SIVAM, Its 4-year-old Amazon Vigilance Program

A senior government official from Brazil will discuss how the country partnered with industry ...

Brazil’s Minister Wants End to Visa for Americans

Brazil’s Minister of Tourism, Walfrido Mares Guia, urged, yesterday, passage of a bill ending ...

Having Learned from US Mistakes China Goes Soft to Win Brazil and LatAm’s Hearts

On November 5, 2008, the Chinese government released a policy paper on Latin America ...

Brazil: In This Crime Show the Host Killed Criminals to Boost Ratings

He is the Amazonas state's assemblyman with most votes in the latest elections in ...

LETTERS

By His independence of thought irritated both fascists and leftists. His private life was ...

A Soccer Fable: The Day the World Found Out Brazil Has No Clothes

The other day at work someone asked me, “Hey, Joe, who’s it going to ...