1945

In 1981, for the first time in several decades, the Brazilian economy experienced a severe contraction, which was to a large extent linked to the stabilization policy begun in the second half of 1980, when the worsening of the inflationary process and the external imbalance brought about changes in the criteria for formulating and applying economic policy. In contrast, with previous years, in 1981 the goals of reducing inflation and improving balance of payments received absolute priority, and the achievement of minimum goals of growth of the economy and employment was no longer taken as the fundamental objective.

Related Subject(s): Economic and Social Development
Countries: Brazil
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