RIO DE JANEIRO (AP) — The bottom seems to have fallen out of Brazil's economy, with the government reporting Friday that the gross domestic product plunged 1.9 percent in the second quarter alone, once again throwing the nation into a technical recession. Like most Latin American nations, Brazil has been hurt by the plunge in commodity prices and the slowdown in China, which has been a big buyer of Brazil's soy, iron ore and other commodities. In how to increase employment, to guarantee that the country returns to growth, and in how to reduce inflation, because we know that inflation erodes the income of the worker. Federal prosecutors allege that the nation's biggest firms paid at least $2 billion in bribes over about a decade to politically appointed Petrobras executives in exchange for grossly inflated building contracts. [...] most of the firms in the construction sector have been shut out of credit markets and are cash-starved and unable to complete projects or begin new ones.
Brazil Recession: Gdp Plunges 1.9 Percent In Second Quarter
BRAD BROOKS, Associated Press, San Francisco Chronicle: World
Sat, 08/29/2015 - 9:46am
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