Brazil: Economic Downturn an Opportunity for Improvement

Brazilian President Dilma Rousseff on Aug. 15 will propose a set of measures designed to redress Brazil's slowing economy. Largely a continuation of Brasilia's measured fiscal policy after the international financial crisis, the reforms will promote growth and limit government expenditures. But far from offering a quick fix, Rousseff's reforms will take time to implement and will address long-term challenges. Thus, the Rousseff government is doing more than offering a temporary solution to Brazil's economic woes: It is using the economic downturn to remove the country's structural impediments to economic growth.