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2014 Soccer World Cup Will Have Positive Impact on Brazilian GDP

first_img The 2014 soccer World Cup in Brazil will have a positive impact of 1.5 percentage points on that country’s gross domestic product (GDP) over the next three years, with the direct creation of at least 250,000 jobs, according to the bank Itaú Unibanco. The institution presented a study on the economic effects of hosting the World Cup, the first to be held in Brazil since 1950. Itaú Unibanco’s head economist, Illan Goldfajn, affirmed that public and private investment for the event will spur GDP growth and open the way to even greater expansion of the Brazilian economy over the long term. “The direct spending impact, both infrastructure and private-sector spending, accounts for 1 percent of GDP, and the remainder comes from the multiplier effect,” Goldfajn said. The Brazilian federal government has a budget of 20.6 billion dollars for investments in stadiums, airports, and transportation and communications infrastructure, among other areas directly linked to the World Cup. Private investment is concentrated in the tourism sector, chiefly in the construction of new hotels. The Brazilian Central Bank estimates GDP growth of 4 percent in 2011. Last year, the Brazilian economy grew approximately 7.5 percent. By Dialogo August 15, 2011last_img read more


Man stabbed, hacked to death

first_imgAn officer points at the lifeless body of resident Lito Bawa-an, who was hacked and stabbed to death, in Barangay San Jose, Sipalay City, Negros Occidental on Nov. 21. SIPALAY CITY POLICE STATION BACOLOD City – A man was stabbed andhacked to death in Barangay San Jose, Sipalay City, Negros Occidental. Police identified the suspects as24-year-old Jay-r Bacorna and 47-year old Bonifacio Tabanao. Bacorna and Tabanao were detained inthe Sipalay City police station’s lockup facility./PN The 58-year-old resident Lito Bawa-andied of hack and stab wounds on the body, a police report showed.center_img Bawa-an was brought to the SipalayCity Health Office where he was “declared dead on arrival.” The motive in the incident was notimmediately established.   According to police investigators,Bacorna and Tabanao were drunk when they stabbed and hacked Bawa-an using aknife and a bolo around 6 p.m. on Nov. 21.   last_img read more