What 2013 brings to the Brazilian economy

– Increase to the minimum wage in 2013 but nothing close to the ideal

The brazilian minimum wage will receive an increase of 9% over the current value and will go to 678 R$ starting on the 1st of January 2013. The value was announced by the president and is somewhat higher than previously anticipated on the budget for next year, of R$ 674.96. The current minimum wage is R$ 622. Despite the increase, minimum wage in Brazil is still far from ideal, according to the Inter-Union Department of Statistics and Socioeconomic Studies (Dieese). According to estimates released by the department in early December, the minimum wage in the country should be R$ 2514.09 to cover the basic needs of a Brazilian.

 

– Rio will have more direct flights to London in March

Starting on March 31st in 2013, British Airways will operate daily flights between Rio de Janeiro and London – currently there are six flights from Tuesday to Sunday. The BA248 will depart at 10:50pm and will arrive at 2pm the next day in Heathrow. On return from London to Rio, it will leave at 12h15m and will arrive the same day at 8:05pm.

 

– Dollar currency will be kept between R$ 2.00 and R$ 2.10

The strong hand of the government will continue over the next two years over the brazilian currency market, a strategy considered correct – though risky, to ensure an appropriate level of growth to the Brazilian economy. Economic agents within the government evaluate that the range from R$ 2 to R$ 2.10 to the U.S. dollar is favoring the Brazilian export sector without harming businesses dependent on imports or create inflationary pressures. Furthermore, the exchange stability at this level has the potential to stimulate investment plans. For the government, the dollar above 2 real helps boost the economy, increasing the competitiveness of industry and exported products.

 

Source: Revista Exame

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Joe Cloud
Dutch, American, Brazilian... lived there for 5 years and owns property in Brazil. Out of the country for a few years now and would like to go back, however current circumstances tell me it's not the right time.

Published by Joe Cloud

Dutch, American, Brazilian... lived there for 5 years and owns property in Brazil. Out of the country for a few years now and would like to go back, however current circumstances tell me it's not the right time.