Brazil Economy Went into
Worse Recession.
Brazil economy contracted 1.9 percent in the second quarter. Household consumption hits the worst since 2001 fell 2.1 percent and investment dropped 8.1 percent started in 1996. President Dilma Rousseff was unsuccessful with his plan to cut spending and raise taxes to drive business and consumer confidence amid scandal and coalition fragmented. Credit rating agencies is to lower grade to near-junk status if there is no improvement in the economy performance (PE01/RU/29/August/15)
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