Country Brief - Brazil 2017

Country Brief - Brazil 2017
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Publication Date:

June, 2017



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Country Brief - Brazil 2017
Country Brief - Brazil 2017
Country Brief - Brazil 2017

For much of the past decade Brazil was one of the world’s fastest-growing emerging economies. As well as increased growth, poverty levels were reduced and the standard of living for millions was dramatically improved. However, in recent years a deteriorating economy, rising unemployment, high inflation, and political corruption scandals have cast a shadow over the country, while the improvements in the poverty rate and reductions in inequality have been showing signs of stagnation. Meanwhile, Vice President Michel Temer assumed leadership after the impeachment of President Dilma Rousseff. Investor enthusiasm for Temer's business-friendly reform agenda helped make Brazil’s currency and stock market one of the world’s best performing in 2016, although his social security and pension reform plans are unpopular. Expectations for stronger economic activity ahead will help boost investment and business and consumer confidence, although political uncertainty will continue to provide a challenging environment for implementing reforms. The large young population continues to be Brazil’s greatest resource for driving future economic growth, although much hinges on the ability of the economy to create jobs in the coming years. Amid the political and economic woes, there is a need to balance the increase in demand for higher education with the need for high-quality, industry-relevant graduates.

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