Brazil: Unfulfilled Promises Once Again
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18 February, 2014 | (01 hr)
After a remarkably long period of economic growth and optimism, the country’s economy and society seems once again to be suffering the dual disappointments of unfulfilled promises and missed opportunities. The progress that began with the economic reforms in the 1990s and significant investment in social cohesion, which lifted some 35 million Brazilians out of poverty in the 2000s, has stalled again. One reason is that the tailwinds from the commodity boom fueled by China’s explosive growth and cheap capital, driven by quantitative easing in mature economies, are fading. But longer term, Brazil is facing critical strategic choices and trade-offs to be able to accelerate growth beyond 3 percent. It needs to navigate between limiting the growth of government spending and the need to step up investment in infrastructure and public services.
Aloisio Campelo Junior, Deputy Superintendent for Business Cycle, is the deputy head for Business Cycle Program of the Fundação Getulio Vargas (FGV), and leads a team of 10+ economists on the tendency surveys of the Brazilian economy... Full Bio
Roberto Castello Branco
Roberto Castello Branco is Advisor to the CEO of Vale in Rio de Janeiro, where he just retired from his position as Head of Investor Relations and Chief Economist, being responsible for the global relationship with capital market participants. He ... Full Bio
Bart van Ark, Ph.D.
Bart van Ark is executive vice president, chief economist & chief strategy officer of The Conference Board. He leads a team of almost two dozen economists in New York, Brussels and Beijing who produce a range of widely watched economic indicat... Full Bio