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Table of contents; Basic statistics of Brazil (2012 unless noted); Executive summary; Assessment and recommendations; Towards more inclusive and sustainable growth; Figure 1. Brazil's growth in international comparison; An expansion is underway but supply constraints are beginning to bite; Table 1....

Figure 5. Primary balance and overall balanceFigure 6. International reserves and external debt; Sustaining inclusive growth; Consolidating confidence in the effectiveness of the macroeconomic policy framework; Figure 7. General government gross debt, net debt and assets with BNDES; Figure 8. Old-ag...

Figure 11. Investment and saving rates in selected regionsFigure 12. Wages and productivity in the industrial sector and relative unit labour costs; Figure 13. Annual disbursements by BNDES; Figure 14. Trade openness and economic size in international comparison; Figure 15. Tariff protection levels;...

Box 3. Main policy recommendations for a responsible use of resourcesMaintaining the momentum of reducing inequality and poverty; Figure 19. Income inequality in international comparison; Figure 20. Poverty in international comparison; Figure 21. Poverty and inequality over time; Box 4. Main policy...

More growth will have to come from productivity improvementsFigure 1.2. Investment rates in international comparison; Figure 1.3. Average annual TFP growth 2000-10 in international comparison; Productivity growth has been uneven across sectors and external competitiveness has declined; Figure 1.4. A...

Improving infrastructure and reducing transport costs