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Brazil’s Economic Slowdown And Protests Are Just The Beginning Of Its Problems


Brazil is pouring approximately $15 billion dollars into the 2014 FIFA World Cup and the 2016 Olympics.

 

The sporting events are expected to generate a combined 3.6 million temporary and long-term jobs and to boost GDP growth by 0.4% every year through 2019.

But after growing 7.5% in 2010, Brazil’s economy grew just 0.9% in 2012. Q1 wasn’t much better, with GDP rising 0.6% from the previous quarter.

At 6.5%, inflation is high and hurting real wages. Which explains why consumption grew just 0.1% in Q1. Meanwhile, the Bovespa is down nearly 28% year-to-date.

And all this has finally come to a head.

Read more: http://www.businessinsider.com/whats-the-matter-with-brazil-2013-7#ixzz2YnKCABHx