| Slimebeast said: Wasn't Brazil's economy booming in the years before 2008 (or whenever it was the global financial crysis hit your country)? Or am I rong? I fink you hade a nice 5% GDP yearly growf and wages went up. But the crysis has gone on for much longer in Brazil than it did in the West. |
Sort of. It´s true that our economy had some years of grow. The period between 2000-2008 was one of the best in the country´s history , but not all years have been great, some were very good, others not so much.
But most of that period also met horrendous government spending on things from populist spending programs to enormous State "rigging" (unecessary increase of governments divisions and personal), not to mention billions of dollars lost in corruption and very few investiments in infra-struture, healthcare and education. Our Government also masked many statistics about the reality of the country, fooling foreign investitors, media and brazilians themselves.
Now the country has a R$ 3 trillion ( USD 990 billion - about 70% of our GDP ) public debt do deal with. The effects are seen not only in the economy but also in public services. We´re passing through a recession that was predicted long ago and our government did very little to try to ease its effects. Who knows when the economy will recover, but it will take a few years for sure.
