Synthesis of the Brazilian Economy

BRAZIL ECONOMICS - Report 12 Jun 2017 by Affonso Pastore, Cristina Pinotti, Marcelo Gazzano and Caio Carbone

The revelation of the content of the secret recording of the off-agenda meeting between Temer and Joesley Batista triggered an important change in the political and economic scenarios, increasing uncertainty and jeopardizing the continuity of the reforms advocated by the economic team. The controversial absolution of the Dilma-Temer ticket by the Superior Electoral Tribunal (TSE) on Friday does not assure a smooth road ahead for the president. The prompt and efficient actions of the Central Bank and National Treasury have contained extreme reactions in asset prices. However, the uncertainty that still reins will affect future decisions on consumption, and especially investments, and can negatively affect the incipient resumption of economic growth.

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