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September 9, 2012

Brazil's Ego Falters Along with Its Economy

Dom Phillips, Bloomberg

AP Photo

Just a few months ago, Brazil's government dreamed of a 4 percent economic expansion for 2012. With second-quarter statistics in -- GDP grew just 0.4 percent over the first quarter -- the Central Bank now says expectations are that the year will close on a figure of 1.64 percent. That would be a comedown even from last year's disappointing 2.7 percent and a staggering drop from 2010's impressive 7.5 percent.

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TAGGED: Brazil

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