{"id":21823,"date":"2014-06-01T07:25:42","date_gmt":"2014-06-01T07:25:42","guid":{"rendered":"http:\/\/4cd.e16.myftpupload.com\/?p=21823"},"modified":"2014-06-01T07:25:42","modified_gmt":"2014-06-01T07:25:42","slug":"brazil-economy-in-slowdown-ahead-of-world-cup","status":"publish","type":"post","link":"https:\/\/citifmonline.com\/2014\/06\/brazil-economy-in-slowdown-ahead-of-world-cup\/","title":{"rendered":"Brazil economy in slowdown ahead of World Cup"},"content":{"rendered":"
Brazil’s economy grew 0.2% in the first three months of 2014, official statistics show.<\/p>\n
The Brazilian Institute of Geography and Statistics also revised down economic growth in the last three months of 2013, to 0.4%.<\/p>\n
The sluggish growth figures come just before the start of the World Cup and presidential elections in October.<\/p>\n
President Dilma Rousseff, who is seeking re-election, has said the football event will spur growth.<\/p>\n
But high inflation and low business investment have put a damper on the expected lift from government investment in projects leading up to the sporting event.<\/p>\n
This has spurred protests from Brazilians angry over the expense of the World Cup and the lack of trickle-down growth.<\/p>\n
Business investment fell 2.1% in the first three months of 2014, the biggest decline in two years.<\/p>\n
“I couldn’t find anything positive at all in the [data],” said Bruno Rovai at Barclays.<\/p>\n
Brazil, which is Latin America’s biggest economy and the world’s seventh largest, has suffered from stubbornly high inflation, which remains at 6%, above the central bank’s target.<\/p>\n
On Wednesday, the central bank kept its key interest rate at 11% in an effort to combat rising prices.<\/p>\n
<\/p>\n
Source: BBC<\/p>\n","protected":false},"excerpt":{"rendered":"
Brazil’s economy grew 0.2% in the first three months of 2014, official statistics show. The Brazilian Institute of Geography and Statistics also revised down economic growth in the last three months of 2013, to 0.4%. The sluggish growth figures come just before the start of the World Cup and presidential elections in October. President Dilma […]<\/p>\n","protected":false},"author":5,"featured_media":21824,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[],"tags":[424,771,4,654],"yoast_head":"\n