IMF Forecasts Puny 3.5% Growth for Brazil and 6.9% for Developing Nations

Economic growth in Brazil will be 3.5% this year and in 2007, lower than the world average, forecasts the International Monetary Fund in its annual World Economic Panorama report that was released this week.

The IMF forecasts average world economic growth at 4.9% for 2006 and 4.7% for 2007. The IMF forecast for average developing nation growth is 6.9% this year. Meanwhile, China is expected to grow 9.5%, India 7.3%, and the African continent 5,7%.

In 2004, world average economic growth was 5.3%, with Brazilian GDP rising 4.9%. In 2005, the world grew 4.8% and Brazil 2.3%.

"There are signs of increased activity in the retail sector and industrial output, along with lower interest rates and moderate inflation, all of which point to higher growth in 2006," says the IMF report.

"To continue the progress made in reducing public debt, it will be essential to resist pressure to slacken fiscal restraints while maintaining a high primary surplus."

ABr

Tags:

You May Also Like

Rebelo’s Turn

Some have dismissed his initiative as just "the paranoia of the Brazilian left-wingers", but ...

Brazil Strikes Oil in Northeast, One of Most Promising Developments in 20 Years

The Brazilian National Petroleum Agency (ANP) announced on Monday, December 19, the discovery of ...

Brazil Declares War to Piracy and Promises Zero Tolerance

In his recap of last year, the executive secretary of the Brazilian Ministry of ...

Brazilian Farmers to Use More Co-ops to Win the World

Establishing consortia with the objective of expanding existing markets and conquering new ones is ...

Brazil Wants to Halve Its Transplant Waiting Line of 63,000

During National Organ and Tissue Donation Week, which runs through Friday, September 30, Brazil’s ...

After Brasí­lia Camping, Brazilian Indians Get More Official Promises

During a recent audience with 30 indigenous leaders from Brazil, the Brazilian Minister of ...

From Rio With Lust The latest for-mature-audiences edition of Brazil Carnaval is out

It is so rare to see Portuguese-language poems translated into English and published in ...

Lula’s Plan to Make Brazil a First World Country

In today’s edition of “Breakfast with the President,” Brazilian President Luiz Inácio Lula da ...