Inglês – Tradução Livre 13/2013

TEXTO

Brazil’s economy

Wrong numbers

More inflation, less growth

FOR Brazilians, disappointing economic news just
keeps coming. After weak third-quarter GDP figures shocked market economists
and government at the end of November, both cut their predictions for growth in
2012 to just 1%. Then the government admitted it would only hit its closely
watched target for the primary fiscal surplus—of 3.1% of GDP—by omitting some
infrastructure spending from the sums, bringing forward dividends from
state-owned firms and raiding the sovereign wealth-fund it set up in 2008. Now
inflation figures have brought more gloom. During 2012 prices rose by 5.84%—above
market expectations, and, for the third year running, close to the ceiling of
the range (2.5-6.5%) targeted by the Central Bank.

In fact, the headline figure underestimates
inflationary pressures. If the federal government had not capped petrol prices,
and municipalities frozen public-transport fares before October’s local
elections, last year’s figure would have been closer to 6.5%. In 2013 both
those prices are likely to rise. The end of a sales-tax holiday for cars will
boost inflation, too. Most analysts now think that inflation will be around 6%
this year. Week by week, they are revising down their forecasts for economic
growth in 2013, now at about 3%.

Fonte:
http://www.economist.com/news/americas/21569706-more-inflation-less-growth-wrong-numbers?zid=305&ah=417bd5664dc76da5d98af4f7a640fd8a

Tradução
Live

Brazil’s economy [Economia do Brasil]

Wrong numbers [Números
ruins]

More inflation, less growth
[Mais inflação, menos crescimento]

FOR Brazilians, disappointing economic news just
keeps coming. After weak third-quarter GDP figures shocked market economists
and government at the end of November, both cut their predictions for growth in
2012 to just 1%. Then the government admitted it would only hit its closely
watched target for the primary fiscal surplus—of 3.1% of GDP—by omitting some
infrastructure spending from the sums, bringing forward dividends from
state-owned firms and raiding the sovereign wealth-fund it set up in 2008. Now
inflation figures have brought more gloom. During 2012 prices rose by 5.84%—above
market expectations, and, for the third year running, close to the ceiling of
the range (2.5-6.5%) targeted by the Central Bank.

Para os brasileiros, decepcionantes notícias
econômicas continuam chegando. Após um fraco terceiro trimestre os dados do PIB
chocaram o mercado econômico e o governo no final de novembro e ambos cortaram
suas previsões para o crescimento em 2012 para apenas 1%. Depois o governo admitiu
que somente atingiria seu objetivo para o superávit fiscal primário – de 3,1%
do PIB – omitindo alguns gastos de infraestrutura, trazendo adiante dividendos
de empresas estatais e invadindo o fundo soberano criado em 2008. Agora os
dados da inflação trouxeram mais tristeza. Durante 2012 os preços aumentaram
5,84% – sobre as expectativas de mercado, e, para o terceiro ano consecutivo,
perto do teto do intervalo (2,5% – 6,5%) objetivado pelo Banco Central.

In fact, the headline figure underestimates
inflationary pressures. If the federal government had not capped petrol prices,
and municipalities frozen public-transport fares before October’s local
elections, last year’s figure would have been closer to 6.5%. In 2013 both
those prices are likely to rise. The end of a sales-tax holiday for cars will
boost inflation, too. Most analysts now think that inflation will be around 6%
this year. Week by week, they are revising down their forecasts for economic
growth in 2013, now at about 3%.

De
fato, o dado da manchete subestima as pressões inflacionárias. Se o governo
federal não tivesse coberto os preços do petróleo, e os municípios congelado as
passagens do transporte público antes das eleições locais de outubro, os dados
do último ano teriam sido próximos a 6,5%. Em 2013 ambos os preços estão para
subir. O fim da redução temporária do imposto sobre vendas para carros
aumentaria a inflação também. Muitos analistas agora pensam que a inflação
seria próxima a 6% este ano. Semana após semana, eles estão revisando para
baixo suas previsões para o crescimento econômico em 2013, agora para cerca de
3%.

*** tax holiday is a temporary reduction or elimination of a tax.

*** “tax holiday” é uma redução ou eliminação temporária
de um imposto.