Brazil’s Economic Revolution
In 2012, Brazil, beset by fallout from the global economic crisis, undertook bold measures to reinvigorate growth, including interest-rate reductions, tax reform, and steps aimed at stimulating private investment. More important, the government’s policies will have a permanent – indeed, revolutionary – impact on Brazil’s economy.
BRASILIA – Large emerging economies were hit hard in the past year – particularly in the first half – by the crisis in developed countries, with Europe in recession and the United States staging only a meager recovery. But 2012 will also be remembered as the year when structural changes in the Brazilian economy were consolidated.