BLOOMBERG.COM
Between a corruption probe, an impeachment trial, and accusations of a coup, it's been hard to keep up with Brazil this year. Dilma Rousseff, narrowly re-elected president in 2014, faced a legislature that blocked her bid to cut costs. The speaker of the lower house, now removed from his post by the Supreme Court, openly abandoned the government coalition, a move his party would follow. The economy was left to sink further and further into recession and is set to hit its worst numbers in more than a century. Companies are putting off investments. As unemployment creeps up and inflation remains high, consumers have cut spending.
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Between a corruption probe, an impeachment trial, and accusations of a coup, it's been hard to keep up with Brazil this year. Dilma Rousseff, narrowly re-elected president in 2014, faced a legislature that blocked her bid to cut costs. The speaker of the lower house, now removed from his post by the Supreme Court, openly abandoned the government coalition, a move his party would follow. The economy was left to sink further and further into recession and is set to hit its worst numbers in more than a century. Companies are putting off investments. As unemployment creeps up and inflation remains high, consumers have cut spending.
Read more>