The document discusses the Brazilian economy and FIESP, an industry association. It provides an overview of FIESP's structure and membership as well as statistics on key sectors of the Brazilian economy such as GDP growth, industrial production, trade balances, exports, imports and foreign investment. Foreign trade flows have increased, with China becoming Brazil's top trading partner. Exports are increasingly comprised of commodities while manufactured goods represent a large portion of imports.
Luxembourg is an advanced economy with the highest per capita income in the OECD, reflecting the dynamic services sector, notably in banking and other financial services.
The 2016 OECD Economic Survey of Israel finds that while Israel has experienced strong growth and employment, productivity has been weak. Poverty and cost of living are high due to sheltered sectors, non-tariff barriers, and concentrated industries like banking. Reforms to boost competition in product and labor markets, improve education, lower regulations, and strengthen social inclusion could raise Israel's GDP by 3-6% through greater productivity and living standards. Targeted policies are also needed to reduce poverty, integrate disadvantaged groups, and ensure adequate retirement incomes.
Economic growth of around 7½% makes India the fastest-growing G20 economy. The acceleration of structural reforms, the move towards a rule-based policy framework and low commodity prices have provided a strong growth impetus.
Zambia's Labor Market with Cross-National ComparisonsLuis Ramos
This document provides background on Zambia's labor market with comparisons to other countries. It summarizes that Zambia's labor market is dominated by agriculture and has high unemployment. 90% of Zambian workers are in the informal sector, lacking tax payments and benefits. This hampers economic development by reducing tax revenue and firm access to credit. The labor market also has an urban-rural divide with fewer opportunities in rural areas, potential "brain drain" of skilled workers emigrating, and gender disparities with women having fewer opportunities than men. Expanding youth and health issues also impact productivity. International comparisons show how Zambia ranks on business indicators relative to similar developing countries.
The document discusses economic challenges and opportunities in Belgium. It finds that while Belgium has undertaken important reforms, productivity growth has weakened and public debt remains high. It recommends boosting productivity through increasing public investment, sustaining R&D spending, and reducing administrative burdens on firms. Making growth more inclusive will require further reducing high labor taxes and improving education and training opportunities for youth, seniors, immigrants and the low-skilled.
The document discusses trends in income growth, productivity, and structural reforms in OECD countries. It finds that most people have seen little income growth for a decade, productivity growth has slowed, and the pace of structural reform has been mixed. It recommends packages of reforms in skills, firms, and jobs to promote inclusive growth through priorities tailored for each country.
The document summarizes key findings from the OECD Economic Survey of Mexico 2017. It finds that economic reforms in Mexico have led to increased productivity growth, rising foreign investment, and a more resilient economy. However, it notes that implementation of reforms remains uneven, and additional reforms are needed in areas like reducing informality, improving gender equality, fighting corruption, and transforming the agricultural sector. The document provides recommendations in these areas to further boost Mexico's economic growth.
The document is a 2017 OECD Economic Survey of France that discusses key economic issues and makes policy recommendations. Some of the main points covered include: potential growth has slowed; too many people are excluded from the labor market; public spending is high but corporate tax revenues are low; developing a long-term strategy to reduce public spending and taxes; and fostering an inclusive development of skills and employment. The survey provides recommendations in several areas such as reducing public spending, improving skills training programs, and improving life in poor neighborhoods.
Luxembourg is an advanced economy with the highest per capita income in the OECD, reflecting the dynamic services sector, notably in banking and other financial services.
The 2016 OECD Economic Survey of Israel finds that while Israel has experienced strong growth and employment, productivity has been weak. Poverty and cost of living are high due to sheltered sectors, non-tariff barriers, and concentrated industries like banking. Reforms to boost competition in product and labor markets, improve education, lower regulations, and strengthen social inclusion could raise Israel's GDP by 3-6% through greater productivity and living standards. Targeted policies are also needed to reduce poverty, integrate disadvantaged groups, and ensure adequate retirement incomes.
Economic growth of around 7½% makes India the fastest-growing G20 economy. The acceleration of structural reforms, the move towards a rule-based policy framework and low commodity prices have provided a strong growth impetus.
Zambia's Labor Market with Cross-National ComparisonsLuis Ramos
This document provides background on Zambia's labor market with comparisons to other countries. It summarizes that Zambia's labor market is dominated by agriculture and has high unemployment. 90% of Zambian workers are in the informal sector, lacking tax payments and benefits. This hampers economic development by reducing tax revenue and firm access to credit. The labor market also has an urban-rural divide with fewer opportunities in rural areas, potential "brain drain" of skilled workers emigrating, and gender disparities with women having fewer opportunities than men. Expanding youth and health issues also impact productivity. International comparisons show how Zambia ranks on business indicators relative to similar developing countries.
The document discusses economic challenges and opportunities in Belgium. It finds that while Belgium has undertaken important reforms, productivity growth has weakened and public debt remains high. It recommends boosting productivity through increasing public investment, sustaining R&D spending, and reducing administrative burdens on firms. Making growth more inclusive will require further reducing high labor taxes and improving education and training opportunities for youth, seniors, immigrants and the low-skilled.
The document discusses trends in income growth, productivity, and structural reforms in OECD countries. It finds that most people have seen little income growth for a decade, productivity growth has slowed, and the pace of structural reform has been mixed. It recommends packages of reforms in skills, firms, and jobs to promote inclusive growth through priorities tailored for each country.
The document summarizes key findings from the OECD Economic Survey of Mexico 2017. It finds that economic reforms in Mexico have led to increased productivity growth, rising foreign investment, and a more resilient economy. However, it notes that implementation of reforms remains uneven, and additional reforms are needed in areas like reducing informality, improving gender equality, fighting corruption, and transforming the agricultural sector. The document provides recommendations in these areas to further boost Mexico's economic growth.
The document is a 2017 OECD Economic Survey of France that discusses key economic issues and makes policy recommendations. Some of the main points covered include: potential growth has slowed; too many people are excluded from the labor market; public spending is high but corporate tax revenues are low; developing a long-term strategy to reduce public spending and taxes; and fostering an inclusive development of skills and employment. The survey provides recommendations in several areas such as reducing public spending, improving skills training programs, and improving life in poor neighborhoods.
The document summarizes key findings from the 2016 OECD Economic Survey of the Czech Republic. It finds that while the Czech economy is growing again and unemployment has returned to pre-crisis levels, business R&D spending and productivity growth have stalled. It also notes that the public administration could be more effective, procurement processes are not competitive enough, and infrastructure investment is low. The report recommends steps to boost innovation, improve bankruptcy proceedings, increase access to finance for startups, use performance indicators, enhance joint procurement, and coordinate public investments.
The OECD Economic Survey of the United Kingdom document makes several key points:
1) GDP growth in the UK has slowed, productivity is stagnant, and inflation has reduced real incomes. However, unemployment is at a 42-year low.
2) Regional productivity gaps exist within the UK, with London being significantly more productive than other areas. Lagging regions rely more on EU funds and have lower skills.
3) Many UK adults and youth have only basic skills. Participation in vocational education is low. Most workers on zero-hours contracts and in low-paid self-employment have low skills.
The document recommends policies to address Brexit challenges, boost regional productivity, and raise skills,
Global growth is expected to modestly pick up due to increasing confidence and investment, but productivity and wage growth remain subdued and financial stability risks persist. While headline employment is improving, labour markets have not fully recovered. Structural changes in technology, trade, and consumer preferences have resulted in manufacturing and mid-level job losses concentrated in specific regions. An integrated policy approach is needed, including reforms to boost competition, skills, and innovation; targeted policies to help displaced workers; and efforts to make the international system more equitable to ensure globalization benefits all.
Since 2000, the quality of life of Colombians has improved markedly. Macroeconomic and social policies have sustained strong GDP growth and reduced poverty.
Determine the Effect of Subjective Norms on Tax Compliance among Small and Me...AI Publications
This study was conducted to determine the effect of subjective norms on tax compliance among small and medium Enterprises (SMEs) in Mbugani and Igogo wards in Nyamagana district The study adopted a cross-sectional survey in the investigation with quantitative approach where primary data were collected from SMEs with 293 taxpayers’ sample size. Self-administered questionnaires were used to gather the data. Descriptive statistical methods, correlation and regression analyses were used to analyze the data. The data was then analyzed with the Statistical Package for Social Scientist software (SPSS version 25),using Regression analysis and analysis of variance (ANOVA).The research findings based on hypothesis revealed that,subjective norms are positively related (coefficient = .510, t = 4.437, p = .000) to tax compliance and significant. The researcher also conducted reliability tests that produced Cronbach’s alpha (α) coefficients around .70 and above. In running regression analysis, measures with the highest variances in each construct were considered whose analysis of variance (ANOVA) model was statistically significant (F=10.563, p=0.000). Overall, the results show if SMEs are subjected to social acceptance (subjective norms) and social interaction and awareness beliefs there is a positive effect to tax compliance. Therefore a direct Tax Education without addressing the social norms might not meet their respective objectives.
The document is an OECD economic survey of Chile that makes several recommendations. It finds that while growth has been resilient, inequality remains high due to uneven opportunities in education and the labor market. It recommends strengthening social policies and spending to promote greater inclusion, expanding early childhood education, boosting skills development, and improving productivity through initiatives like increasing R&D spending and reducing business regulations.
Following years of unsustainable economic policies, Argentina has undertaken ambitious reforms. Further wide-ranging structural reforms are needed to respond to challenges still lying ahead. Protecting the poor and ensuring that growth is inclusive and sustainable are key priorities.
Sweden's output has been lifted by an expanding labour force, investment and a recent pick-up in productivity.Unemployment is receding, although it remains relatively high for vulnerable groups, notably the foreign-born.
The document summarizes key findings from the 2017 OECD Economic Survey of Austria. It finds that while Austria's economy is growing again, digital adoption remains below expectations. Public debt is high but falling, though population aging will increase fiscal pressures. Gender imbalance in the labor force persists, and low-skilled workers face higher unemployment. The survey recommends Austria increase retirement ages, undertake spending reviews, streamline regulations to boost growth, and ensure an inclusive transition to the digital economy through skills training.
Costa Rica 2016 Economic Assessment making Costa Rica more productive and inc...OECD, Economics Department
Costa Rica has made progress in raising living standards and managing natural resources well. Current challenges include restoring fiscal sustainability by implementing tax reforms, making growth more inclusive by improving access to childcare and reducing inequality, and boosting productivity through greater investment in R&D and reducing barriers to competition.
The document is an OECD economic survey of Brazil that discusses several economic and social issues facing the country. Some of the main findings are that Brazil's fiscal position has deteriorated, inflation has risen above targets, and the healthcare system faces capacity constraints. Key recommendations include implementing fiscal adjustments, improving monetary policy effectiveness, streamlining taxes, boosting trade, and enhancing healthcare spending efficiency.
Switzerland has experienced strong and stable growth in recent years. However, productivity growth has been below the OECD average due to low levels of female labor participation and a lack of competition in some sectors. Housing prices and household debt have increased substantially, exposing the economy. The OECD recommends increasing competition, boosting female labor participation, and implementing macroprudential policies and supply-side reforms to improve productivity and ensure stable long-term growth.
This document summarizes key findings from the 2015 OECD Economic Survey of Indonesia. It finds that while Indonesia has experienced strong growth that has reduced poverty, inequality is rising and structural changes are needed to ensure inclusive growth. It recommends strengthening social programs, education, infrastructure spending and the targeting of social security to support inclusive growth and development. Productivity in agriculture and energy diversification also need to increase to make the most of natural resources.
Global economic growth is projected to be around 4% in the coming years, supported by recovering investment and trade. However, risks remain from rising oil prices, trade tensions, and high private sector debt levels in some countries. Unemployment rates are falling in many advanced economies but there is still room to increase labor force participation. Inflation is expected to rise moderately. The document recommends countries boost skills development, digital infrastructure investment, and reduce barriers to business dynamism. It also suggests using fiscal policy reforms like cutting taxes for low-income workers to make growth more inclusive.
This document provides a summary of the first OECD Economic Assessment of Malaysia in 2016. It notes that Malaysia has experienced resilient GDP growth and rising incomes levels close to the OECD average. However, it also finds opportunities to boost productivity growth through improvements to education, reducing skills mismatches, strengthening competition, and liberalizing services. The assessment provides recommendations to foster more inclusive and sustainable growth through measures such as boosting social protection, addressing regional inequality, and reforming the pension system.
This document summarizes an OECD tax policy review of Costa Rica conducted in 2017. The review assessed Costa Rica's tax system, benchmarked it against other countries, and provided recommendations to support tax reform. Key findings included that Costa Rica's tax revenues were close to the Latin American average but insufficient given its budget deficit. The tax mix relied heavily on social security contributions and did little to reduce inequality. Tax bases were narrow due to exemptions and avoidance, undermining revenue collection. The review recommended broadening tax bases, increasing revenues, and gradually rebalancing the tax mix as the budget stabilizes. It also suggested strengthening the role of taxes in lowering inequality and modernizing tax administration.
an architecture whose boundaries are not geographical but theological. That was produced in many different geographic regions whose diverse cultures were unified through the religion of Islam.
Certain architectural features have become fixed and eternal. In this modern world, they help us find our architectural roots and remain true to our identity. Almost every architectural structure addresses, in a direct sense, cultural identity and philosophy within a physical context.
If we want to understand, appreciate, and evaluate the architectural quality of a building, we need to develop a sense of dimension, topography, climate, material, structure, and proportion, and of the surrounding physical environment — both natural and human-made. This sense goes far beyond the building’s ability to serve utilitarian needs.
Slovenia 2017 OECD Economic Survey Boosting investment through better skills ...OECD, Economics Department
The OECD Economic Survey of Slovenia 2017 document makes the following key points in 3 sentences:
The Slovenian economy is rebounding from a long recession, but further investment is needed to boost productivity through improving skills development and reducing regulatory burdens. Unemployment is declining but long-term joblessness remains high, and the country faces fiscal challenges from an aging population that threaten debt sustainability if not addressed. The survey makes recommendations in areas like education, the labor market, state-owned enterprises, and regulation to support higher growth and living standards in Slovenia.
The document is an OECD economic survey of Luxembourg that discusses several key topics:
1. Luxembourg has one of the highest GDP per capita and well-being outcomes in the OECD due to high incomes from the large financial sector.
2. However, the economy is highly dependent on the financial sector, creating vulnerabilities. Economic diversification could raise productivity and reduce risk.
3. Other sections evaluate strengthening the financial sector through regulation, raising productivity through more R&D investment, improving education, and increasing female labor participation to further diversify the economy.
As home to the recent World Cup and the upcoming Summer Olympic Games, Brazil has developed an exciting and fast-growing economy and has become a prominent global investment destination. And as Latin America's largest economy and the sixth-largest in the world, Brazil has created a broad and diversified economic infrastructure that offers U.S. companies opportunities to export goods and services to its growing population. Coupled with those opportunities for American exporters are many challenges in establishing a market presence in Brazil.
Kegler Brown global business attorneys Martijn Steger, Luis Alcalde, David Wilson and Marcella Gurgel, along with Rafael Villac Vicente de Carvalho from Brazilian firm Peixoto & Cury, presented "Unlocking Brazil: Keys to Success in Latin America's Largest Economy" on September 10, 2014, and explored potential solutions to the challenges of conducting business in Brazil.
Brazil has the largest economy in South America and has experienced high rates of economic growth since 2000. However, Brazil also has a high debt level, accounting for over 60% of GDP in the early 2000s. While Brazil has a well-developed industrial and services sector, it also has widespread income inequality and infrastructure deficiencies outside of major cities. Going forward, Brazil needs reforms and increased social spending to promote more inclusive growth and reduce its vulnerabilities to financial crises.
The document summarizes key findings from the 2016 OECD Economic Survey of the Czech Republic. It finds that while the Czech economy is growing again and unemployment has returned to pre-crisis levels, business R&D spending and productivity growth have stalled. It also notes that the public administration could be more effective, procurement processes are not competitive enough, and infrastructure investment is low. The report recommends steps to boost innovation, improve bankruptcy proceedings, increase access to finance for startups, use performance indicators, enhance joint procurement, and coordinate public investments.
The OECD Economic Survey of the United Kingdom document makes several key points:
1) GDP growth in the UK has slowed, productivity is stagnant, and inflation has reduced real incomes. However, unemployment is at a 42-year low.
2) Regional productivity gaps exist within the UK, with London being significantly more productive than other areas. Lagging regions rely more on EU funds and have lower skills.
3) Many UK adults and youth have only basic skills. Participation in vocational education is low. Most workers on zero-hours contracts and in low-paid self-employment have low skills.
The document recommends policies to address Brexit challenges, boost regional productivity, and raise skills,
Global growth is expected to modestly pick up due to increasing confidence and investment, but productivity and wage growth remain subdued and financial stability risks persist. While headline employment is improving, labour markets have not fully recovered. Structural changes in technology, trade, and consumer preferences have resulted in manufacturing and mid-level job losses concentrated in specific regions. An integrated policy approach is needed, including reforms to boost competition, skills, and innovation; targeted policies to help displaced workers; and efforts to make the international system more equitable to ensure globalization benefits all.
Since 2000, the quality of life of Colombians has improved markedly. Macroeconomic and social policies have sustained strong GDP growth and reduced poverty.
Determine the Effect of Subjective Norms on Tax Compliance among Small and Me...AI Publications
This study was conducted to determine the effect of subjective norms on tax compliance among small and medium Enterprises (SMEs) in Mbugani and Igogo wards in Nyamagana district The study adopted a cross-sectional survey in the investigation with quantitative approach where primary data were collected from SMEs with 293 taxpayers’ sample size. Self-administered questionnaires were used to gather the data. Descriptive statistical methods, correlation and regression analyses were used to analyze the data. The data was then analyzed with the Statistical Package for Social Scientist software (SPSS version 25),using Regression analysis and analysis of variance (ANOVA).The research findings based on hypothesis revealed that,subjective norms are positively related (coefficient = .510, t = 4.437, p = .000) to tax compliance and significant. The researcher also conducted reliability tests that produced Cronbach’s alpha (α) coefficients around .70 and above. In running regression analysis, measures with the highest variances in each construct were considered whose analysis of variance (ANOVA) model was statistically significant (F=10.563, p=0.000). Overall, the results show if SMEs are subjected to social acceptance (subjective norms) and social interaction and awareness beliefs there is a positive effect to tax compliance. Therefore a direct Tax Education without addressing the social norms might not meet their respective objectives.
The document is an OECD economic survey of Chile that makes several recommendations. It finds that while growth has been resilient, inequality remains high due to uneven opportunities in education and the labor market. It recommends strengthening social policies and spending to promote greater inclusion, expanding early childhood education, boosting skills development, and improving productivity through initiatives like increasing R&D spending and reducing business regulations.
Following years of unsustainable economic policies, Argentina has undertaken ambitious reforms. Further wide-ranging structural reforms are needed to respond to challenges still lying ahead. Protecting the poor and ensuring that growth is inclusive and sustainable are key priorities.
Sweden's output has been lifted by an expanding labour force, investment and a recent pick-up in productivity.Unemployment is receding, although it remains relatively high for vulnerable groups, notably the foreign-born.
The document summarizes key findings from the 2017 OECD Economic Survey of Austria. It finds that while Austria's economy is growing again, digital adoption remains below expectations. Public debt is high but falling, though population aging will increase fiscal pressures. Gender imbalance in the labor force persists, and low-skilled workers face higher unemployment. The survey recommends Austria increase retirement ages, undertake spending reviews, streamline regulations to boost growth, and ensure an inclusive transition to the digital economy through skills training.
Costa Rica 2016 Economic Assessment making Costa Rica more productive and inc...OECD, Economics Department
Costa Rica has made progress in raising living standards and managing natural resources well. Current challenges include restoring fiscal sustainability by implementing tax reforms, making growth more inclusive by improving access to childcare and reducing inequality, and boosting productivity through greater investment in R&D and reducing barriers to competition.
The document is an OECD economic survey of Brazil that discusses several economic and social issues facing the country. Some of the main findings are that Brazil's fiscal position has deteriorated, inflation has risen above targets, and the healthcare system faces capacity constraints. Key recommendations include implementing fiscal adjustments, improving monetary policy effectiveness, streamlining taxes, boosting trade, and enhancing healthcare spending efficiency.
Switzerland has experienced strong and stable growth in recent years. However, productivity growth has been below the OECD average due to low levels of female labor participation and a lack of competition in some sectors. Housing prices and household debt have increased substantially, exposing the economy. The OECD recommends increasing competition, boosting female labor participation, and implementing macroprudential policies and supply-side reforms to improve productivity and ensure stable long-term growth.
This document summarizes key findings from the 2015 OECD Economic Survey of Indonesia. It finds that while Indonesia has experienced strong growth that has reduced poverty, inequality is rising and structural changes are needed to ensure inclusive growth. It recommends strengthening social programs, education, infrastructure spending and the targeting of social security to support inclusive growth and development. Productivity in agriculture and energy diversification also need to increase to make the most of natural resources.
Global economic growth is projected to be around 4% in the coming years, supported by recovering investment and trade. However, risks remain from rising oil prices, trade tensions, and high private sector debt levels in some countries. Unemployment rates are falling in many advanced economies but there is still room to increase labor force participation. Inflation is expected to rise moderately. The document recommends countries boost skills development, digital infrastructure investment, and reduce barriers to business dynamism. It also suggests using fiscal policy reforms like cutting taxes for low-income workers to make growth more inclusive.
This document provides a summary of the first OECD Economic Assessment of Malaysia in 2016. It notes that Malaysia has experienced resilient GDP growth and rising incomes levels close to the OECD average. However, it also finds opportunities to boost productivity growth through improvements to education, reducing skills mismatches, strengthening competition, and liberalizing services. The assessment provides recommendations to foster more inclusive and sustainable growth through measures such as boosting social protection, addressing regional inequality, and reforming the pension system.
This document summarizes an OECD tax policy review of Costa Rica conducted in 2017. The review assessed Costa Rica's tax system, benchmarked it against other countries, and provided recommendations to support tax reform. Key findings included that Costa Rica's tax revenues were close to the Latin American average but insufficient given its budget deficit. The tax mix relied heavily on social security contributions and did little to reduce inequality. Tax bases were narrow due to exemptions and avoidance, undermining revenue collection. The review recommended broadening tax bases, increasing revenues, and gradually rebalancing the tax mix as the budget stabilizes. It also suggested strengthening the role of taxes in lowering inequality and modernizing tax administration.
an architecture whose boundaries are not geographical but theological. That was produced in many different geographic regions whose diverse cultures were unified through the religion of Islam.
Certain architectural features have become fixed and eternal. In this modern world, they help us find our architectural roots and remain true to our identity. Almost every architectural structure addresses, in a direct sense, cultural identity and philosophy within a physical context.
If we want to understand, appreciate, and evaluate the architectural quality of a building, we need to develop a sense of dimension, topography, climate, material, structure, and proportion, and of the surrounding physical environment — both natural and human-made. This sense goes far beyond the building’s ability to serve utilitarian needs.
Slovenia 2017 OECD Economic Survey Boosting investment through better skills ...OECD, Economics Department
The OECD Economic Survey of Slovenia 2017 document makes the following key points in 3 sentences:
The Slovenian economy is rebounding from a long recession, but further investment is needed to boost productivity through improving skills development and reducing regulatory burdens. Unemployment is declining but long-term joblessness remains high, and the country faces fiscal challenges from an aging population that threaten debt sustainability if not addressed. The survey makes recommendations in areas like education, the labor market, state-owned enterprises, and regulation to support higher growth and living standards in Slovenia.
The document is an OECD economic survey of Luxembourg that discusses several key topics:
1. Luxembourg has one of the highest GDP per capita and well-being outcomes in the OECD due to high incomes from the large financial sector.
2. However, the economy is highly dependent on the financial sector, creating vulnerabilities. Economic diversification could raise productivity and reduce risk.
3. Other sections evaluate strengthening the financial sector through regulation, raising productivity through more R&D investment, improving education, and increasing female labor participation to further diversify the economy.
As home to the recent World Cup and the upcoming Summer Olympic Games, Brazil has developed an exciting and fast-growing economy and has become a prominent global investment destination. And as Latin America's largest economy and the sixth-largest in the world, Brazil has created a broad and diversified economic infrastructure that offers U.S. companies opportunities to export goods and services to its growing population. Coupled with those opportunities for American exporters are many challenges in establishing a market presence in Brazil.
Kegler Brown global business attorneys Martijn Steger, Luis Alcalde, David Wilson and Marcella Gurgel, along with Rafael Villac Vicente de Carvalho from Brazilian firm Peixoto & Cury, presented "Unlocking Brazil: Keys to Success in Latin America's Largest Economy" on September 10, 2014, and explored potential solutions to the challenges of conducting business in Brazil.
Brazil has the largest economy in South America and has experienced high rates of economic growth since 2000. However, Brazil also has a high debt level, accounting for over 60% of GDP in the early 2000s. While Brazil has a well-developed industrial and services sector, it also has widespread income inequality and infrastructure deficiencies outside of major cities. Going forward, Brazil needs reforms and increased social spending to promote more inclusive growth and reduce its vulnerabilities to financial crises.
The document summarizes Brazil's economic performance and outlook for 2011 and 2012. In 2011, Brazil's economy grew at a slower pace than 2010 but maintained positive growth even as the international crisis worsened. Key factors supporting Brazil's growth included increased investment, government programs boosting infrastructure, housing and employment. Going forward, Brazil is expected to see increased growth in 2012 as investments from public and private sectors rise across multiple economic sectors.
Brazil has one of the largest and fastest growing economies in the world, and is predicted to become one of the top five economies globally in the coming decades. It has a large industrial sector producing automobiles, steel, and aircraft. Agriculture is also important, with Brazil being a top global producer of grains and soybeans. Historically, Brazil's economy relied on exports of gold, coffee, sugar, and raw materials, and used slave labor until the 19th century. It has since diversified and now has hundreds of trade partners.
The economy of Brazil has grown steadily in recent years with a GDP of $3.143 trillion and real GDP growth of 3.7% annually. Some key economic indicators include an inflation rate of 3% and an unemployment rate of 9.6%. Brazil has a large agriculture sector producing coffee, soybeans and sugarcane, and industrial sectors like textiles, chemicals, aircraft and motor vehicles. While Brazil has experienced growth, challenges remain around fiscal strategy, infrastructure investment, and taxation policy to support higher long-term economic productivity.
The document summarizes the development of Brazil's economy from 1500 to the present. It describes how Brazil was initially colonized by Portugal and its economy was based on exports of sugar and cattle. In the 1700s, precious metals were discovered. In the 1800s, coffee became a major export and Brazil gained independence in 1822. The structure of the economy shifted over time from being based on exports of commodities like coffee, rubber, and cotton to import substitution industrialization starting in the 1930s. More recently, Brazil has become one of the largest economies in the world, with steady GDP growth, reductions in inequality, and the discovery of major oil reserves transforming its economic outlook.
This document provides information on Brazil's history, geography, people, and culture. It discusses key points such as Portugal colonizing Brazil in 1500 and it gaining independence in 1822. It was a profitable slave trade destination, receiving 35% of Atlantic slaves. The largest country and population in South America, Brazil varies greatly in climate and ecosystem. While Portuguese is the main language, the people are highly diverse with influences from indigenous, Portuguese, Italian, and African groups. Carnival is a famous cultural celebration highlighting the country's rich folklore and music.
Pro-growth Fiscal Policy - Benjamin Diokno SWIFTAsiaPac
The document discusses several key points regarding fiscal policy in the Philippines:
1) The Philippines has one of the highest corporate income tax rates in ASEAN at 30% while countries like Thailand have lowered theirs to attract more foreign direct investment.
2) The tax system could be reformed to increase the VAT rate while lowering personal income tax rates to encourage savings and investment. Reducing taxes on interest income and corporate profits could also attract more foreign capital.
3) Introducing a nationwide real property tax could generate more tax revenue as the Philippines has overinvested in real estate rather than factories and farms. Overall the document argues for pro-growth fiscal reforms to make the tax system more competitive and productive.
Argentina. the 2017 economy starting to growAdm Red
1. The 2017 Argentine economy saw GDP growth, lower inflation, increased investment and private consumption, and falling unemployment.
2. Primary fiscal deficit and primary spending as a percentage of GDP both fell simultaneously for the first time in over 100 years.
3. Tax burden as a percentage of GDP also declined for the second consecutive year, lowering the tax pressure on the economy.
The document is a draft World Bank report on job creation in the Philippines. It analyzes the country's weak employment record and policy distortions that led to it. It highlights the current opportunity for government, business, labor, and civil society to work together on an agenda for inclusive growth and addressing the jobs challenge. The report makes recommendations the reform coalition could consider to put the Philippines on an irreversible path of creating more and better jobs.
Indonesia OECD Economic Survey 2018 promoting a more inclusive and resilient ...OECD, Economics Department
The document discusses promoting a more inclusive and resilient economy in Indonesia. It notes that living standards and access to infrastructure have risen, and poverty has receded, but pervasive informality traps many in low-quality jobs. It recommends deepening domestic financial markets, improving targeting of social assistance, reforming state-owned enterprises, and improving skills training to make the economy more resilient and inclusive. Two thematic chapters focus on raising revenues to meet spending needs and developing a stronger and sustainable tourism sector.
The document summarizes key findings from the 2017 OECD Economic Survey of South Africa. It finds that while short-term fiscal and monetary policies have limited scope to boost growth, bold structural reforms are needed in areas like network sectors, education, energy infrastructure, and regional integration. Unemployment remains high in South Africa and poverty reduction has been slow. The report recommends reforms such as improving education and vocational training, reducing red tape for businesses, opening up more sectors to competition, deepening regional integration within the SADC, and boosting entrepreneurship.
The Economy and Demography
Challenges and Opportunities for the oneNS Coalition Thomas Storring, NS Department of Finance and Treasury Board, 2014-09-16
The document is the 2016 OECD Economic Survey of Germany. It discusses Germany's strong economic recovery after the recession, low unemployment rate, and high levels of well-being. However, it notes investment is low compared to other countries, which contributes to low productivity growth. It recommends increasing investment in infrastructure and removing barriers in professional services to boost competition and productivity, especially in the services sector. It also addresses issues around population aging, increasing immigration, education outcomes for immigrants, and encouraging more women and older workers to remain in the labor force.
Bangladesh is a parliamentary democracy located in South Asia. It has a population of over 160 million people and a GDP of $163.2 billion, which has been growing steadily at around 6% annually. Key sectors of the economy include agriculture, manufacturing (especially garments), and services. Despite natural disasters, political transitions and global economic slowdowns, Bangladesh has demonstrated economic resilience with stable fiscal and monetary conditions supporting continued growth.
Thailand aims to escape the middle-income trap and become a high-income country by 2030. To achieve this, the country is pursuing strategies focused on growth and competitiveness, inclusive growth, green growth, and improving internal processes. Major infrastructure investments are planned in areas like high-speed rail, road networks, and transportation to support these goals.
Boosting private investment for growth and competitiveness in Argentina. A view from the OECD
OECD EMnet Business Meeting on Latin America
Buenos Aires, 14 November 2017
Colombia offers a dynamic and stable economy with a growing middle class market. It has over 16 trade agreements allowing access to third markets. GDP is projected to grow 3.5% in 2019, faster than most Latin American countries. Unemployment has remained below 10% since 2013 and inflation is expected to remain between 2-4% target. Colombia ranks highly in Latin America for ease of doing business and protecting investors. Investment as a percentage of GDP is over 20% and expected to increase in 2019-2020.
This document summarizes key points from the 2018 OECD Economic Survey of Australia. It notes that Australia has experienced 27 years of robust economic growth and rising incomes. Unemployment is falling and quality of life indicators are good. However, housing markets are beginning to cool, household debt remains high, and the country faces challenges in reducing greenhouse gas emissions to meet climate targets. The OECD provides recommendations in areas like monetary policy, fiscal reform, skills and training, inclusion, urban planning, and environmental policy to help ensure Australia's continued economic success.
This document summarizes the key findings of the 2018 OECD Economic Survey of Turkey. It notes that while Turkey's growth has remained strong, macroeconomic imbalances have emerged including a rising current account deficit and inflation. It recommends that Turkey undertake fiscal and macroeconomic rebalancing through tighter fiscal policy, strengthening macroprudential rules, and reinforcing the independence of the central bank. It also recommends upgrading business investment by addressing issues such as low productivity among small firms, high informality, uneven investment patterns across firm types, and low spending on research and development.
AS/COA
680 Park Avenue
New York, NY
View map
February 18, 2015
Registration: 8:30 a.m. to 9:00 a.m.
Conference: 9:00 a.m. to 10:30 a.m.
AS/COA, ANBIMA, and BRAiN held an on-the-record presentation by Joaquim Levy, Minister of Finance of Brazil.
Welcoming Remarks:
Randy Melzi, Senior Director, Public Policy Programs and Corporate Relations, AS/COA
José Carlos Doherty, Director, BRAiN; Head, ANBIMA
Speaker:
Joaquim Levy, Minister of Finance, Brazil
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Event Information: Diogo Ide | dide@as-coa.org | 212-277-8352
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2. 2. Economic Highlights
3. Foreign Trade
4. Investments
DEREX | Department of Trade and Foreign Affairs
1. Institutional .
3. Industry
FIESP
Federation of Industries
of State of Sao Paulo
Represents 131 sector business
associations which stands for
about 150,000 state and
national firms
CIESP
Center of Industries
of State of Sao Paulo
43 regional offices throughout
the state which represents
about 10,000 associated firms
These entities work together in defense of the industry,
providing services and support to their associated
institutions and firms.
DEREX | Department of Trade and Foreign Affairs
IRS
Roberto Simonsen
Institute
Think tank specialized in
industrial issues. It’s also
responsible for the coordination
of Superior Council
4. Education
SESI
Industrial Social
Service
Provides industrial
employee’s families
with social services,
mainly education,
culture, sports and
health
SENAI
Industrial Technical Schools
Promotes professional
education through
technical schools
providing qualified
workforce to the
industry
220 basic schools and
more than 273,000
children, youth, adults
and elderly people
157 technical schools
and more than 1 million
students registrations
per year
DEREX | Department of Trade and Foreign Affairs
5. DEREX | Department of Trade and Foreign Affairs
FIESP Structure
PRESIDENCY
SUPERIOR COUNCILS
Guidelines for departments
DEPARTMENTS
Trade and Foreign Affairs
Agribusiness
Union and Labor Issues
Competitiveness and Technology
Infrastructure and Energy
Regional Action
Environment
Small and Medium Companies
Research and Economic Studies
Legal Division
Defense Industry
Construction Industry
6. 1.015
379
700
Brazil SãoPaulo
State
Fiesp
100% 37% 69%
Sao Paulo State and FIESP’s representativeness in the Brazilian Economy
Main Industrial Sectors Represented by FIESP
Aircraft
Food
Fuels
Oil Refinery
Electric Energy
Ethanol
Fertilizer and Animal Food
Machinery
Metallurgy
Paper and Cellulose
Chemical Products
Oil and Gas
Textiles and Apparel
Vehicles and auto parts
Industrial GDP (US$ Billions)
33% of Total GDP (*) US$ 709 bi
24% of Total Exports (**) US$ 59.9 bi
57% of Brazil´s Industrialized Exports (**) US$ 53.3 bi
SP State Share in Brazil’s GDP and Exports
(*)2010, latest effective figure available
(**)2012
7. Sao Paulo State and FIESP’s representativeness in Brazilian Economy
2. Economic Highlights
3. Foreign Trade
4. Investments
10. In 2012, vehicle production fell 1.8%. Production of cars grew with IPI reduction,
but the truck’s production decreased…
DEREX | Department of Trade and Foreign Affairs
Source: ANFAVEA Compilation : FIESP
-4%
0%
4%
8%
12%
16%
0
1,000
2,000
3,000
4,000
2006 2007 2008 2009 2010 2011 2012
Production of vehicles
Vehicles (1000 units) % YoY
11. The new light vehicle sales had been boosted by incentives granted by the
Government in 2012
Source: ANFAVEA Compilation : FIESP
DEREX | Department of Trade and Foreign Affairs
-60%
-40%
-20%
0%
20%
40%
60%
0
500
1,000
1,500
2,000
2,500
3,000
3,500
4,000
2006 2007 2008 2009 2010 2011 2012
Production of vehicles by category
Vehicles production Light vehicles Trucks Buses
1,000 units % YoY
12. Retail sales growth remains strong with an increase of 8.4% in 2012
Source: BCB Compilation : FIESP
DEREX | Department of Trade and Foreign Affairs
72.5
76.6
82.2
92.4
98.7
106.1
110.2
feb-07
jun-07
oct-07
feb-08
jun-08
oct-08
feb-09
jun-09
oct-09
feb-10
jun-10
oct-10
feb-11
jun-11
oct-11
feb-12
jun-12
oct-12
feb-13
Retail Sales Index (11=100)
seasonally adjusted
13. Strong demand versus flat supply...
Note: (¹) Index number, seasonally adjusted
Source: IBGE, Macrodados Compilation : FIESP
DEREX | Department of Trade and Foreign Affairs
80.00
100.00
120.00
140.00
160.00
feb-07
jun-07
oct-07
feb-08
jun-08
oct-08
feb-09
jun-09
oct-09
feb-10
jun-10
oct-10
feb-11
jun-11
oct-11
feb-12
jun-12
oct-12
feb-13
Industrial Production versus Retail Sales
(jan/07=100)¹
Industrial Production
Retail Sales
Industrial
production
fell 2.7% in
2012
Retail sales
increased
8.4% in 2012
14. ...consistent credit expansion in Brazil, but...
Note: (*) Preliminary data
Source: BCB Compilation : FIESP
DEREX | Department of Trade and Foreign Affairs
35,0
40,0
45,0
50,0
55,0
0
500
1.000
1.500
2.000
2.500
2008 2009 2010 2011 2012*
Credit Expansion
Loans Loans % GDP
USD bn %
15. credit over GDP is still low compared to other economies
Source: World Bank Compilation : FIESP
DEREX | Department of Trade and Foreign Affairs
206%
194%
187%
173%
135%
122%
116%
71%
65%
61%
55%
55%
51%
26%
17%
Credit (% of GDP) - Selected Economies
16. The Brazilian tax burden is very high. Partners with similar ratio have a per capita
GDP more than three times higher
DEREX | Department of Trade and Foreign Affairs
Source: IBGE, IMF, IMD, RFB Compilation: DECOMTEC/FIESP
Tax burden x per capita GDP
Taxburden(%ofGDP)
Per capita GDP (PPP)
17. In April 2012 public banks started to reduce lending rate boosting competition.
This brought pressure on lending spreads, which began a declining trend.
Source: BCB Compilation : FIESP
DEREX | Department of Trade and Foreign Affairs
5
10
15
20
25
30
35
40
feb-11 may-11 aug-11 nov-11 feb-12 may-12 aug-12 nov-12 feb-13
Financial System Spread
Total Individuals Companies
Public banks
lending rate
reduction
18. Brazilian Monetary Authority promoted an aggressive monetary expansion…
Note: The Brazilian Central Bank increased the SELIC rate to 7.50% on April, 18th, 2013
Source: BCB, IBGE Compilation : FIESP
DEREX | Department of Trade and Foreign Affairs
10.50%
7.25%
6.2%
5.2%
4.9%
5.2%
5.5%
5.8%
6.3%
6.59%
7%
8%
9%
10%
11%
4.0%
4.5%
5.0%
5.5%
6.0%
6.5%
7.0%
jan-12 mar-12 may-12 jul-12 sep-12 nov-12 jan-13 mar-13
Monetary Policy
Consumer prices (IPCA): YoY Policy Rate (SELIC)
19. Inflation remains within the bounds set by the government
Source: Brazilian Central Bank and the IMF Compilation: FIESP
DEREX | Department of Trade and Foreign Affairs
8.6%
5.8%
7.4%
11.9%
9.0%
7.4%
5.6%
3.1%
4.4%
5.8%
4.2%
5.8%
6.3%
5.7%
1999
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
Inflation (IPCA YoY)
IPCAinflation
Target
Upper/lowerbounds
20. …several stimulus policies are in progress in response to the ongoing international
crisis environment.
Stimulus policy
DEREX | Department of Trade and Foreign Affairs
1) Expansive monetary policy
2) Tax exemption for dynamic sectors (IPI)
3) Fiscal and credit stimulus for Industry “Brasil Maior”
4) “PAC equipamentos”: anticipation of government purchases
5) Reduction in energy costs
Automobile
White line
Building material
For consumers of
medium and
large (in the case
of industries), the
value can reach
32%.
21. Unemployment down in Brazil...
Source: IBGE Compilation : FIESP
DEREX | Department of Trade and Foreign Affairs
5.5
6.2
5.9
5.4 5.4
4.6
5.4
4.0
5.0
6.0
7.0
jan-12 mar-12 may-12 jul-12 sep-12 nov-12 jan-13
Unemployment Rate - seasonally adjusted
(% p.m)
22. Source: IBGE Development: FIESP
DEREX | Department of Trade and Foreign Affairs
Brazilian population is ageing. More than 47% is above 30 years old.
7.03
7.62
8.73
8.56
8.63
8.46
14.49
12.01
8.74
5.26
3.89
6.78
7.34
8.44
8.43
8.61
8.64
15.15
12.83
9.68
6.10
5.34
0-4 years old
5-9 years old
10-14 years old
15-19 years old
20-24 years old
25-29 years old
30-39 years old
40-49 years old
50-59 years old
60-69 years old
70-over
Demographic composition
(Millionpersons)
Women Men
23. Around 30 million people have entered the middle class from 2003 to 2009.
DEREX | Department of Trade and Foreign Affairs
Note: (*) Forecast: CPS/FGV. Last effective data: 2009
Source: CPS/FGV Compilation : FIESP
Class A/B
more than US$ 2,790;
Class C
between US$ 648 – 2,790;
Class D:
between US$ 467 – 648.
Class E: up to US$ 467;
Note: monthly per capita
income per households and
class, in prices of 2009.
Social Class Mobility
(% of total population and millions of people)
2003 2009 2014*
28%
27%
37%
8% 13
49
47
66
15%
24%
50%
11%
29
44
95
20
8%
20%
56%
16% Class A/ B
Class C
Class D
Class E16
40
113
31
24. 3. Foreign Trade
4. Investments
DEREX | Department of Trade and Foreign Affairs
25. Trade flow follows a positive trend. In 2011, exports and imports reached highest
historical level.
Forecast: FIESP *YTD until march
DEREX | Department of Trade and Foreign Affairs
0
50
100
150
200
250
300
2006 2007 2008 2009 2010 2011 2012 2013*
Brazilian Trade Balance
Exports Imports Balance
USD bn USD bn
Source: MDIC Compilation : FIESP
26. Since 2008, commodities¹ represents the most part of Brazilian exports
DEREX | Department of Trade and Foreign Affairs
Note: (¹) Commodities represents primary products and semimanufactured goods
Source: MDIC Compilation : FIESP
20%
30%
40%
50%
60%
70%
80%
2006 2007 2008 2009 2010 2011 2012
Brazilian exports composition (% of total)
Commodities Non-Commodities
27. Asia is Brazil´s number 1 trade partner...
DEREX | Department of Trade and Foreign Affairs
Source: MDIC Compilation : FIESP
Trade Balance: share by trade partner (2012)
United States European Union Latin America Asia Others
28. Brazilian
Exports
USD bn
∆ %
(2012 x 2011)
Brazilian
Imports
USD mn
∆ %
(2012 x 2011)
1º China 41,2 -7,0% China 34,2 4,4%
2º USA 26,7 3,5% USA 32,4 -4,7%
3º Argentina 18,0 -20,7% Argentina 16,4 -2,7%
4º Netherlands* 15,0 10,3% Germany 14,2 -6,6%
5º Japan 8,0 -16,0% South Korea 9,1 -9,9%
Trade balance by destinations and origins (2012)
Top 5 destinations and origins of Brazilian exports and imports.
Note: (*) Main logistical hub of Europe
Source: MDIC Compilation : FIESP
DEREX | Department of Trade and Foreign Affairs
29. Brazilian
Exports
USD mn
Brazilian
Imports
USD mn
Iron ores
and concentrates
30.989
Petroleum, crude 20.306 Petroleum, crude 13.406
Soybeans,
whether or not broken
17.455 Natural gas 3.336
Chicken 6.732
Coal, whether or powder,
unagglomerated
3.006
Soybean bran 6.595 Wheat grains 1.757
Rubber, in natura 662
Main BASIC products (2012)
Main primary products exports and imports...
Source: MDIC Compilation : FIESP
DEREX | Department of Trade and Foreign Affairs
30. Brazilian
Exports
USD mn
Brazilian
Imports
USD mn
Airplanes 4.747
Spare parts for vehicles 3.778 Spare parts for vehicles 6.771
Passenger car 3.725 Passenger car 9.567
Refined sugar 2.814 Fuel oils 6.712
Ethyl alcohol 2.186 Medicines 6.114
Electronic integrated
circuits
4.249
Main MANUFACTURED products (2012)
...main manufactured products exports and imports.
Source: MDIC Compilation : FIESP
DEREX | Department of Trade and Foreign Affairs
33. TOP 10 origins of direct investment in Brazil
DEREX | Department of Trade and Foreign Affairs
Source: BCB Development: FIESP
FDI in Brazil: share by country (2012)
Country US$ Mil Share
United States 12,310 20.3%
Netherlands* 12,213 20.2%
Luxembourg 5,965 9.9%
Switzerland 4,333 7.2%
Spain 2,523 4.2%
France 2,155 3.6%
Chile 2,013 3.3%
United Kingdom 1,953 3.2%
Canada 1,950 3.2%
Japan 1,471 2.4%
* Netherlands is an investment hub
34. Brazil leads agribusiness production and exports globally for several products …
Source: USDA (apr/2013) and DEAGRO – FIESP Compilation : FIESP
DEREX | Department of Trade and Foreign Affairs
1st 1st 1st 1st 2nd 1st 2nd 4th
81% 45% 35% 28% 19% 31% 22% 9%
1st 1st 3rd 1st 2nd 2nd 3rd 4th
57% 22% 20% 37% 17% 24% 9% 3%
ExportsProduction
Brazil | Leadership in World Ranking (2012/13)
Orange Juice Sugar Broiler Coffee Beef Soy Complex Corn Pork
35. DEREX | Department of Trade and Foreign Affairs
Note: (*) Estimative
Source: Conab (Apr/2013) and DEAGRO - FIESP. Compilation : FIESP
1.5 3.5
37%
217%
Area (million ha):
Production (million tons):
38
52
58
184
90/91
91/92
92/93
93/94
94/95
95/96
96/97
97/98
98/99
99/00
00/01
01/02
02/03
03/04
04/05
05/06
06/07
07/08
08/09
09/10
10/11
11/12
12/13*
Productivity (tons/ha):+127%
Brazil | Production of grains
Grains: cotton, peanuts, rice, oats, canola, rye, barley, beans, sunflower, castor beans, corn, soybeans, sorghum, wheat and triticale.
36. Brazil stands out for the high share of renewable energy in its energy matrix than
the BRICS and G7 countries...
DEREX | Department of Trade and Foreign Affairs
2.8
3.2
3.3
5.4
7.7
8.7
9.7
10.0
11.9
16.9
26.1
45.8
0 5 10 15 20 25 30 35 40 45 50
Russia
United Kingdom
Japan
United States
France
Germany
Italy
South Africa
China
Canada
India
Brazil
Renewable Energy Souces (% of energy supply)
Source: Brazilian Ministry of Finance, Apr 2012 Economic Outlook Report.
Compilation : FIESP
37. Fifteen biggest Projects in the World’s Energy Sector* (USD bn)
DEREX | Department of Trade and Foreign Affairs
2.5
3.0
4.2
6.3
6.3
6.5
6.6
6.8
8.2
10.0
10.2
12.0
12.6
16.0
18.2
Brazil
Colombia
India
Brazil
China
Canada
Canada
China
Brazil
Brazil
China
USA
Brazil
Brazil
China
Pescadero Hydroelectric
Angra 3 Nuclear Station
Jirau Hydroelectric (RO)
Mundra Thermoelectric
Xiangjiaba Hydroelectric
Romaine Hydroelectric
Pace River Hydroelectric
Xiluodu Hydroelectric
Santo Antônio Hydroelectric (RO)
Yangjiang Nuclear Station
Green Power Express Transmission
Belo Monte Hydroelectric (PA)
São Luiz do Tapajós Hydroelectric (PA)
Jiuquan Eolic Platform
Teles Pires Hydroelectric (MT-PA)
Note: (*) Final stage or in progress
Source: Brazilian Ministry of Finance, Apr 2012 Economic Outlook Report.
Compilation : FIESP