1. Brazilian Economic Outlook Ulisses Ruiz-de-Gamboa
Ulisses Ruiz-de-Gamboa
Economist, Ph.D.
March 12, 2018

2. Agenda
Introduction
Recent Economic Developments
Future Prospects

3. Introduction

4. Main Figures Territorial extension: 8,515,767 km2;
Total population: 207,7 inhabitants (2016);
GDP: US$ 2,033 Billion (2017);
GDP per capita (PPP): US$ 9,722 (2017).

5. Macroeconomic Policy
Main features of the macroeconomic policy framework:
Inflation-targeting system;
Primary fiscal surplus-targeting;
Exchange rate flexibility

6. Recent Economic Developments

7. GDP Annual Rate of Change %
Source: Bradesco

8. Unemployment Rate – Annual Average %
Source: Bradesco

9. Inflation – Annual Rate %
Source: Bradesco

10. Nominal Interest Rate – Annual Rate %
Source: Bradesco

11. Current Account – % GDP
Source: Bradesco

12. Foreign Direct Investment – US$ Million
Source: Bradesco

13. Primary Fiscal Surplus – % GDP
Source: Bradesco

14. Exchange Rate and CDS Spreads
Source: Bradesco

15. Future Prospects

16. Structural Reforms Agenda
Source: Brazilian Ministry of Finance

17. GDP Annual Rate of Change %
Source: Bradesco

18. Industrial Confidence Index
Source: Bradesco

19. Consumer Confidence Index
Source: Bradesco

20. Agricultural Production – Annual Rate of Change %
Source: Bradesco

21. Industrial Production – Annual Rate of Change %
Source: Bradesco

22. Services – Annual Rate of Change %
Source: Bradesco

23. Retail Sales – Annual Rate of Change %
Source: Bradesco

24. Investments – Annual Rate of Change %
Source: Bradesco

25. Construction – Annual Rate of Change %
Source: Bradesco

26. Investment Opportunities
Source: Brazilian Ministry of Finance

27. Investment Opportunities
Source: Brazilian Ministry of Finance

28. Other Positive Prospects
Expansion of middle (C) class;
Brazilian financial system is well capitalized;
Provisioning is rigorous;
Favorable demographics until 2025;

29. Thank You!