Brazil made little or no progress in becoming more economically competitive in 2016, according to an annual survey, released Thursday, by the National Confederation of Industry (CNI). The annual study matches up Brazil against 17 competitor countries. In this year’s report, Brazil is still second-to-last, the same ranking as last year. Argentina was less competitive than Brazil and Peru more competitive. The most competitive among the 18 countries was Canada. The report measures factors such as infrastructure, labor costs and availability, capital costs, taxation, bureaucracy, broad economic policies and several others. Most economists are hoping Brazil can exit the doldrums this year. The Central Bank has already begun a process of monetary loosening while Brazil’s government is working to rein in spending, all the while improving infrastructure through sale of concessions to private investors.
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