1945

In 1982, for the second year in a row, the Brazilian economy showed a recessive trend which was reflected in the decline of per capita income, high inflation rates similar to those of the immediately preceding years, and a decline of employment in the formal sector similar to that of 1981. In addition, the problems of the external sector as regards both current and capital transactions were accentuated. The prolonged economic recession in the industrialized countries and the high interest rates on the international financial markets began to have an impact on the Brazilian economy, not only directly, but also indirectly through their growing impact on other developing countries that had become major trading partners of Brazil. This meant that income from exports declined sharply, as did the procurement of external financial resources, which dropped significantly because of the contraction of the private international financial system, especially during the last months of the year.

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