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Brazil : Staff Report for the 2013 Article IV Consultation.
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ISBN: 1616359455 1484390520 148438685X 1484300734 9781484386859 9781616359454 Year: 2013 Publisher: Washington, D.C. : International Monetary Fund,

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Abstract

This 2013 Article IV Consultation highlights that Brazil’s economy is recovering gradually from the slowdown that began in mid-2011. Consumption remained resilient last year underpinned by low unemployment and broad gains in real wages, although it has slowed somewhat more recently. After a protracted period of weakness, investment has begun to recover in recent quarters while business confidence has firmed. With the economy estimated to be operating close to potential, supply-side constraints have restrained near-term growth and exacerbated inflationary pressures. Financial conditions have tightened but credit growth has remained strong, driven by public banks’ lending.

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