2025 Philadelphia Tango Festival
April 30, 2025
Last year Brazil overtook UK as the world’s sixth largest economy, but this may soon change back.
Last year Brazil overtook the UK as the world’s sixth largest economy. According to one forecast, the UK may regain sixth place in 2013,a s Brazil falls back to seventh. The euphoria that accompanied Brazil’s rise is yielding to the reality of Brazil’s slow growth, expected to be 1% in 2012. The change in ranking is related to the 10% devaluation of the currency ( the real), which should favor improved exports for Brazil. For the long term: Goldman Sachs’ Jim O´Neill, who coined the acronym Bric to refer to the world’s emerging economic powerhouses, is still optimistic. “But more reforms are needed to restore growth,” he says. In his view, Brazil still faces a wide range of structural problems, such as infrastructure bottlenecks, a stifling bureaucracy and a complex fiscal system that casts a shadow over the country’s business environment.”
