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The economic history of Brazil covers various economic events and traces the changes in the Brazilian economy over the course of the history of Brazil. Portugal, which first colonized the area in the 16th century, enforced a colonial pact with Brazil, an imperial mercantile policy, which drove development for the subsequent three centuries. [1]
Its GDP surpassed that of the United Kingdom in 2012, temporarily making Brazil the world's sixth-largest economy. However, Brazil's economic growth decelerated in 2013 [34] and the country entered a recession in 2014. The economy started to recover in 2017, with a 1% growth in the first quarter, followed by a 0.3% growth in second quarter ...
The Plano Real (Real Plan) were a set of measures taken to stabilize the Brazilian economy, particularly against hyperinflation. The plan stopped index inflation, introduced the Real (Brazil's currency), created an exchange rate that was partially pegged to the U.S. dollar for stability, and limited government spending. [10]
The Brazilian economy had limited financial resources to support an expensive expansionary fiscal policy. [4] The Plano Real involved anchoring the economy to a separate unit of account, the Unidade Real de Valor (URV), instead of the currency, the cruzeiro. The function of payment was then transferred to the URV which became the real.
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A review of the past and other stories, vol. 17.1 (2018) (issue dedicated on "Brazilian Historiography: Memory, Time and Knowledge in the Writing of History"). Perez, Carlos. "Brazil" in Kelly Boyd, ed. Encyclopedia of Historians and Historical Writing, vol 1 (1999) 1:115-22. Schulze, Frederik, and Georg Fischer. "Brazilian history as global ...
The economic crisis led to a political one which, with other factors, culminated in the impeachment of Dilma Rousseff. The fiscal crisis was not an explicit cause of her impeachment. [18] Internal Dilma Rousseff, Michel Temer: COVID-19 pandemic In 2020, as Brazil was still recovering from the 2014 crisis, it was struck by the COVID-19 pandemic ...
In 2009, Brazil's economic rise was temporarily halted by the worldwide financial crisis, forcing the government to implement a temporary tax relief policy in strategic segments of the economy like automobiles and construction. These measures helped the country prevent a long-term recession and ensured a quick recovery to Brazil's economic ...