LatAm Daily | After a significant adjustment, CA declines to 3.3% of GDP in Brazil

Thanks to the contraction of domestic demand, which we estimate to have been around 6.3%, and the 50% depreciation of the USD exchange rate in 2015, the current account deficit dropped 44% and reached USD59bn (3.3% of GDP) last year. The deficit was entirely covered by FDI, which reached USD75bn (4.2% of GDP).

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