All posts filed under: Finance

Is Brazil headed for an Economic Mineirazo?

Brazil may be on the road to recovery as far as soccer is concerned with their recent one – nil victories over Columbia and Ecuador in international friendlies, the former game seeing acclaimed striker Neymar play in his first game as captain and score the winning goal. But on the other hand, things do not look very good for Brazil’s economy and therefore also for the incumbent Ms. Rousseff and the left leaning party to which she belongs – Worker’s Party (International Business Centre) The country’s economy is in a recession as it has seen negative growth in two consecutive quarters. The first and second quarter of 2014 have both seen negative growth in the economy. The first quarter saw a contraction of 0.2% while in the second quarter the economy shrank by 0.6% (“Brazil’s Economy Falls into Recession, Latest Figures Show”). This comes at a time when the 2014 FIFA World Cup was projected by many to be of great assistance to the Brazilian economy. According to a report by Ernst and Young, one …