Brazil is a vast country with great potential but with various factors holding it back. It’s most successful period economically was 1930-1970 during which it grew at an average of 7% pa based on the Import Substitution model. During the 1970's growth was maintained by borrowing internationally and this led in 1982 to the Latin American debt crisis and the inability to service debts.
The 1980's were the lost decade in Brazil and the rest of Latin America as the debt burden led to hyperinflation and fiscal repression. It was only in the 1990's that the debt burden ceased to be a critical issue, following Brady Plan relief and other adjustments, and hyperinflation was finally brought under control with a new currency, the Real, in 1994.
Since then the record has been mixed. A new Constitution was approved in 1988 which included many progressive provisions involving the extension of economic concepts of citizenship to the whole population and it is fair to say that there has been a lot of progress socially over the past three decades.
However Brazil has failed to reorientate it’s insertion in the international economy on a longterm sustainable basis. There are a number of factors hindering this such as excessive costs and measures to address these issues are subject to political process. At the current time the most urgent issue in Brazil is pensions reform. The Brazilian State employee pension system is excessively generous and is causing large and increasing fiscal deficits.
In October 2019 a set of pensions reforms were approved but it remains to be seen how successful these will be in restraining costs and reducing the deficit. The new Finance Minister, Paulo Guedes, under President Bolsonaro is a disciple of the Chilean school of market reforms and financial orthodoxy and he is quite clear on the need for reforms.
Contents
Introduction
The Modern Period
The Current Era
The Modern State
Economics from the Ground Up
Political Systems
Trade Theory
The EU as a Model of Integration
Industrialisation
Synopsis
Data
World GDP 2018
World GDP PPP 2018
GDP per capita ppp 2018
Exports & Imports 2018
Container Traffic 2010 & 2018
Oil Production 2018
Migrant Remittances 2018
Tourism Statistics 2017
Tourism Americas 2017
Latin America
Background
The US and Latin America
Economy
The EU and Latin America
Mercosur
World Exports 2000-2018
Brazil
Introduction
Political System
Brazil in the World Economy
Agriculture & Commodities
Embrapa
Manufacturing
Ethanol & Oil
Brazil & China
Brazil & Latin America
Brazil & the US
Brazil & the EU
Labour Market
Social Structure
Housing
State Budget
Health System
Medium Term
Current Issues
Tax, Welfare & Pensions
The Cost of Brazil
Reforms Proposed by CNI
Summary
Charts & Chart Commentary
Sources
89 pages
Brazil 2020
- Product Code: ISSN 2014-5063 (2020) No 3
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