With more than 16 months of import cover, Brazil?s international liquidity position is excellent. Solvency is also robust, with moderate foreign debt service ratios.
After a 17 % increase in business insolvencies 2010, Crédito y Caución expects a further rise in the coming months, especially in construction, food, consumer durables, IT, and retail sales.
Crédito y Caución expects business failures to decrease 10% year-on-year in 2011, to 51,700 cases. However, this is still far higher than the 28,100 cases of 2007.
For 2011, Credito y Caución forecast a decrease in United Kingdoms insolvencies of 5%, signalling a gradual adjustment away from the unusually high level seen in 2009.
In the short term, the public sector will be able to meet its obligations, but a question mark still hangs over the mid-term future.
After this years strong economic performance, Thailands GDP growth is forecast to slow to 4% in 2011, as Thai exports will be affected by a decrease in global growth.
GDP growth in Slovakia will be lower in 2011 [3.3%] as a result of the governments austerity measures, introduced with the aim of reducing the public deficit to 4.9% of GDP this year.
Vietnam will remain dependant on foreign capital inflows, but these have not yet recovered from a plunge during the global credit crisis.
GDP will grow by 4.3% in 2011. To maintain high growth rates and attract more foreign direct investment, more structural reforms are necessary.
Um mercado doméstico em dificuldade contrabalançado por um ritmo de exportações em franco crescimento: este é o retrato mitigado do sector farmacêutico europeu para diversos países em 2011
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