For the world's worst-performing economies, no good will come from New Year's resolutions to do better. For many, 2016 will only bring more disappointment, say economists surveyed by Bloomberg. Oil-rich Venezuela will contract by 3.3 percent this year, the worst forecast of any of the 93 countries in the analysis, followed by junk-rated Brazil, debt-laden Greece and commodities-ravaged Russia. 

 

In the space of just two days three former Brazilian presidents have been dragged into the investigation into a huge kickback scheme in the state-run oil firm Petrobras. According to informer Nestor Cerveró, the government of Fernando Henrique Cardoso, bitter adversary of President Dilma Rousseff, received “a US$100-million bribe” to get Petrobras to purchase of private Argentine oil company Perez Companc. But with the country stuck in a deep recession, unemployment and inflation rising, and President Dilma Rousseff’s government mired in the biggest corruption scandal in the country’s history, Brazilians are in no mood to party.

 

For the world's worst-performing economies, no good will come from New Year's resolutions to do better. For many, 2016 will only bring more disappointment,&nbsp;say&nbsp;economists surveyed by Bloomberg. Oil-rich Venezuela will contract by 3.3 percent this year, the worst forecast of any of the 93 countries in the analysis, followed by junk-rated&nbsp;Brazil, debt-laden Greece&nbsp;and commodities-ravaged&nbsp;Russia.&nbsp;
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In the space of just two days three former Brazilian presidents have been dragged into the investigation into a huge kickback scheme in the state-run oil firm Petrobras. According to informer Nestor Cerver&oacute;, the government of Fernando Henrique Cardoso, bitter adversary of President Dilma Rousseff, received &ldquo;a US$100-million bribe&rdquo; to get Petrobras to purchase of private Argentine oil company Perez Companc. But with the country stuck in a deep recession, unemployment and&nbsp;inflation rising, and President Dilma Rousseff&rsquo;s government mired in the biggest corruption scandal in the country&rsquo;s history, Brazilians are in no mood to party.
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Get all the news you need to know each day with Bongani Bingwa’s Breakfast Show. Stay updated on developing stories and hear from the newsmakers making headlines as well as ordinary listeners affected by the stories. 

Get all the news you need to know each day with Bongani Bingwa’s Breakfast Show. Stay updated on developing stories and hear from the newsmakers making headlines as well as ordinary listeners affected by the stories.

The Best of Breakfast with Bongani Bingwa

The highlights from each day's breakfast show with Bongani Bingwa.