In 2014, Igor Cornelsen penned an article for PRnewswire.com/, and he outlined the problems and some of the solutions surrounding the Brazilian economy. The article was written around the time the world was in awe of Brazil, and they thought the nation was a beautiful melting pot. This was because of the World Cup, and the 2016 Summer Olympics had the same result. Most people were interested in the sport side of Brazil, but there is a lot going on there economically too. The entire article that covers all everything, including the investing and small business building tips, can be found by clicking here.
The primary problem Igor Cornelsen has is his dislike for Brazilian President Dilma Roussef. She began the “new economic matrix” and implemented a lot of populist policies that have done the country no good. The GDP is practically drowning, and it is doing all it can to stay afloat with a rate under two percent, which has led Brazil’s GDP to $2.5 trillion. Although a trillion seems like a lot of money, for a country the size of Brazil, especially being the second biggest economy in the Americas, to have a GDP that low is troubling. At the time, investors had been let down for more than six years.
Despite the obvious problems and the fuel scandal highlighted in the full article, Brazil has enormous potential. It has a competitive agricultural production industry, tons of natural resources that cover the entire nation and a middle class that is growing in number and wealth. Considering the country already has the eighth largest economy, Igor Cornelsen believe it could explode onto the world stage as long as it has the right economic policies. He believes the way to get onto the right track is to let Finance Minister Joaquin Levy enact a plan containing fiscal austerity and market focused reform. This could bring the country back on track economically after six years of poor decisions.