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  • Yesteryear

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    Siddharth Barua
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    From 1964-1985, Brazil experienced rapid industrialization and economic growth under military rule, but a debt crisis emerged as foreign debt surged to $54 billion by 1980 due to the 1970s oil crisis. In 1985, democratic government was established and import tariffs were reduced to attract more foreign direct investment. From 1994 onward, presidents Cardoso and da Silva continued economic reforms to address financial issues, with Cardoso implementing the Real Plan in 1994 to stabilize the currency and da Silva expanding social reforms.

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    From 1964-1985, Brazil experienced rapid industrialization and economic growth under military rule, but a debt crisis emerged as foreign debt surged to $54 billion by 1980 due to the 1970s oil crisis. In 1985, democratic government was established and import tariffs were reduced to attract more foreign direct investment. From 1994 onward, presidents Cardoso and da Silva continued economic reforms to address financial issues, with Cardoso implementing the Real Plan in 1994 to stabilize the currency and da Silva expanding social reforms.

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    9 views2 pages

    Yesteryear

    Uploaded by

    Siddharth Barua
    From 1964-1985, Brazil experienced rapid industrialization and economic growth under military rule, but a debt crisis emerged as foreign debt surged to $54 billion by 1980 due to the 1970s oil crisis. In 1985, democratic government was established and import tariffs were reduced to attract more foreign direct investment. From 1994 onward, presidents Cardoso and da Silva continued economic reforms to address financial issues, with Cardoso implementing the Real Plan in 1994 to stabilize the currency and da Silva expanding social reforms.

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    The Yester Years

    From 1964-1985: Military Government Rule


    Brazil experienced rapid industrialization expansion , its manufacturing industry flourished. Economy grew at the rate of 11.1% and inflation was under control. Oil crisis in 1970 which led to subsequent increase in international interest rate affected Brazil Foreign debt surged and by 1980 it was $54 billion. So as possible solution government introduced reforms to attract FDI.

    1985: Democratic Government


    Reduction in Import Tariff from 51% to 35% on average.

    Continue
    1994: Mr Cardoso elected as president
    He implemented an economic reform program called Real Plan , under which real was allowed to float free and subsequently it appreciated by 30%. The Mexican crisis in 1994 and the South Asia crisis in 1999 aggravated Brazils financial woes .

    2002 : Luiz Inacio Lula da Silva (Lula) became president.


    He continue the reforms started by his predecessor Cardoso in welfare, education and health and also areas ranging from pension to policing.

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