A longtime banking executive based in Caracas, Julio M. Herrera Velutini carries on a 120-year family tradition of banking in Venezuela. Julio Herrera Velutini also played a central role in the advancement of the banking industry in Brazil, which has enjoyed considerable economic prosperity since the early 2000s. Over the past five years, however, GDP growth has slowed significantly in Brazil, reaching only 0.1 percent in 2014.
To revitalize the nation’s economic growth and combat current imbalances in the macroeconomic system, the Brazilian government has set surplus targets of 1.2 percent and 2 percent in 2015 and 2016, respectively. Authorities hope the surplus will offset the country’s primary deficit of 0.6 percent and overall GDP deficit of 6.7 percent in 2014. To realize its surplus targets, the Brazilian government has begun cutting discretionary expenditures and reducing entitlements. Authorities also have decreased treasury support for the electricity and public banking sectors in an attempt to shrink the country’s fiscal deficit.
0 Comments
Leave a Reply. |
AuthorMr. Velutini has experience with both established banks and young banks. S Archives
December 2017
Categories
All
|