Sustainable Recovery in Brazil (Ter-Minassian)

Promoting a sustainable recovery in Brasil by Teresa Ter-Minassian published by VoxLacea (11/2012). “Brazil’s hopes for economic growth rates on a par with those of the most dynamic emerging markets in Asia have been sadly disappointed lately, as output growth slowed from an unprecedented 7.5% in 2010 to just 2.7% in 2011, and has nearly stagnated in the first half of 2012. At the same time, inflation has remained well above the mid-point of the central bank’s (BCB) target range, and the current account deficit has hot improved, despite further gains in the terms of trade…In the more recent months, however, while maintaining a stimulative stance of macro-economic policies, the government has announced a range of additional measures aimed at addressing some of the long-standing structural obstacles to sustained growth.”