Brazil has embarked on a virtuous path of fiscal rigor while opening and improving the efficiency of its well-diversified economy, also attracting increasing amounts of FDI. The country is home to a sophisticated and innovative business sector, with its main champions competing successfully and investing in international markets. However, a number of shortcomings continue to affect Brazil’s competitiveness landscape and need to be addressed for the country to fully leverage its large potential. The significant imbalances still present in its macroeconomic environment, widespread inefficiencies in its factor markets and poor educational standards, especially in math and science, are among the most pressing concerns in this regard.
Irene Mia, Director, Senior Economist, Global Competitiveness Network, World Economic Forum, and a co-editor of the report.
During this period of global economic crisis, Brazil is experiencing a time of great opportunities for its competitiveness environment. Ranked 64th out of 134 countries in the Global Competitiveness Index 2008-2009, the country has to make the most of the financial slowdown to facilitate improvements in its regulatory framework and make adequate investments so that the country’s infrastructure can match the needs of the national economy.
Carlos Arruda, Professor of Innovation and Competitiveness, Fundação Dom Cabral, and co-editor of the report.