Informal economy of Brazil mueve US $ 326.000 million
Source: Diario Financiero - Chile - 21/07/2010
EFE
The informal economy moved 578.000 million reals in Brazil in 2009 (US $ 325.800 million), a figure that represents an 18,4% of the country's GDP, according to a study disseminated today by the Getulio Vargas Foundation and the Brazilian Institute of Ethics of Competence (ETCO).
“We are talking about 600.000 million reals at the margin of her formal Brazilian economy. To give you an idea of the gravity of this problem, just remember that the submerged economy of Brazil surpasses all of Argentina's economy, ”says André Franco Montoro, executive director of ETCO.
According to the report, collected by the country's electronic press, in 2003, when the study was launched for the first time, Brazil's informal economy was estimated at 357.000 million reals, a date that implied 21% of GDP.
The fall of the submerged economy with respect to GDP reflects that despite the increase in absolute terms of informational movements, formal transactions have accelerated to a higher pace.
The Brazilian economy grew 9% in the first quarter of the year to the same period in 2009, the largest reported in the first quarter of the last 16 years.
This quarterly growth allows a 10% annualized growth to be projected for Brazil, but forecasts by economists are that the pace will slow down in the next few months and that the country will end 2010 with growth of 6,6%.