Seminar evaluates Brazil’s economic recovery
Low inflation, falling interest rates, bolstered job market and GDP growth are some of the topics covered at the Third Economic Analysis Seminar of FGV’s Brazilian Institute of Economics (IBRE). The meeting will be held on September 11, from 4 p.m. to 6 p.m., at FGV’s Cultural Center in Rio de Janeiro (Praia de Botafogo, 186, Botafogo). The goal is to outline prospects regarding Brazil’s economy, which has been showing signs of recovery, albeit still at a sluggish pace.
That is the overview presented by Regis Bonelli, coordinator of IBRE’s Macro Bulletin. According to the expert, the country’s economy has changed since June, showing clearer signs that it is on track to recovery. “The recovery process gained momentum due to multiple factors. One of them was the drop in interest rates. Another key factor was the lower inflation, besides higher employment rates – despite the fact that such increase came mainly from the informal market,” he said.
According to Bonelli, the biggest surprises from the latest economic indicators included higher household consumption, on the demand side, and the growth of the service segment, on the offer side, mainly commerce, which was boosted by the lower inflation and the release of inactive FGTS accounts. “Contained price hikes and increasing compensation (based on last year’s inflation) allowed households to recover past consumption rates due to the higher purchasing power. The service sector, just like commerce, is also recovering faster than we anticipated,” he said.
The IBRE researcher pointed out that the industry and civil construction sectors remain weak, as well as investments, “which was already expected.” According to Bonelli, the most important aspect is that all signs point towards recovery.
IBRE experts will review the latest macroeconomic indicators, monetary and fiscal policy results, and draw up short- and medium-term forecasts. The event will also be attended by Silvia Matos, Technical Coordinator of IBRE’s Macro Bulletin; José Julio Senna, Head of the Center for Monetary Studies; Salomão Quadros, Assistant Superintendent of General Price Indexes; Aloísio Campelo, Superintendent of Public Statistics; Armando Castelar, Coordinator of Applied Economics, and Samuel Pessôa and Bráulio Borges, Associate Researchers in Applied Economics.
Go to the website to learn more and register.