Impact of economic crisis on Brazilian economy

Brazil took advantage of both the reforms conducted since the
implementation of Plano Real and the expansion of world economy to
initiate a new cycle of economic growth. Differently from the historical
trend in Latin America, the prices of commodities rose and exports broke
records contributing to the rise in revenue and output growth.
This growth, which was around 5% per year, was the basis for the establishment of social policies
which contributed to reduce poverty and promote social inclusion.
By affecting Brazil, the crisis broke the cycle of economic growth and put
social developments at risk. Even though the country still maintains a better
position, if compared to the majority of the Latin American economies, the
economic down turn interrupts an important process of economic and social
Paulo Paiva
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