Brazil economic overview and solar power in Brazil Essay

Brazil economic overview and solar power in Brazil - Essay Example In 2008, Brazil became a net external creditor and two ratings agencies awarded investment grade status to its debt (Brazil Economy – overview, 2012). Along with India, China, Russia and South Africa; Brazil is one of the prominent members of BRICS countries. BRICS countries are the most rapidly developing regions in this world at present. While majority of the Latin American countries and America like wealthy countries struggling to develop properly, Brazil is developing rapidly. The injuries of 2007-2008 recessions have not affected Brazil very much. â€Å"In 2010, consumer and investor confidence revived and GDP growth reached 7.5%, the highest growth rate in the past 25 years† (Brazil Economy – overview, 2012). Even though the economic growth in Brazil has been slowed down a bit in 2011, the forecasts for 2012 and coming years are bright. â€Å"Despite slower growth in 2011, Brazil overtook the United Kingdom as the world's seventh largest economy in terms o f GDP. Urban unemployment is at the historic low of 4.7% (December 2011)† (Brazil Economy – overview, 2012). Social â€Å"The richest 10% of people in Brazil have access to over 40% of the country’s income. On the other hand, the poorest 10% receive about 1% of the income† (Brazilian Social Issues, 2011). The gap between the rich and poor in Brazilian society is extremely huge compared to that in many other countries. One of the most challenging problems facing by Brazil at present is the reduction of this gap. The living conditions of the rich people are advancing rapidly whereas poor people are still struggling to attain the benefit of economic growth in Brazil. Poverty, unemployment and other problems are still prominent in Brazil despite the huge economic growth. It is evident...This paper is the best example of PESTEL analysis of Brazil. There is also a strong analysis of current state of solar power industry development in Brazil provided in the pape r. Brazil is a federal presidential representative democratic republic, in which the president holds supreme power of the country as well as the government just like America. Even though multiparty system exists in Brazil, its democracy is different from other democratic systems Characterized by large and well-developed agricultural, mining, manufacturing, and service sectors, Brazil's economy outweighs that of all other South American countries, and Brazil is expanding its presence in world markets The gap between the rich and poor in Brazilian society is huge compared to that in many other countries. One of the most challenging problems faced by Brazil is the reduction of this gap. The technological developments in Brazil are not so much attractive. Indigenously developed technologies are less in Brazil compared to other emerging countries The rapid development of a country often brings many environmental challenges Deforestation, acid rain, endangered species, air pollution, waste disposal, etc are some of the major environmental problems facing by Brazil. Brazil is a federative republic, constituting an indissoluble union of States, Municipalities, and the Federal District. The Brazilian legal system is codified. In 2012, the Brazilian National Agency of Electrical Energy approved the most important piece of new legislation for the solar industry in the country to date. Net metering for solar systems up to 1MW was introduced and utilities were granted an 80% reduction in distribution taxes for power generated by solar plants up to 30MW in size