Once one of the brightest stars among emerging countries, Brazil has slipped in recent quarters due to inherent problems.

Accelerating inflation has forced the country’s central bank to raise interest rates many times in recent times.

Brazilians protest the huge costs of this year’s World Cup.

The World Cup is expected to help them attract millions of tourists and giant sponsors.

However, many Brazilians are skeptical about the above statements.

According to a report by Moody’s Investors Service, Brazilians’ doubts about the economic benefits of hosting the World Cup are well-founded.

`We see this event having very little impact on Brazil, considering the timing of the World Cup and the size of the economy,` Moody’s commented.

This event also has many potential risks.

Besides, there are only a few weeks left until the World Cup opens, but Brazilian workers are still protesting for increased wages and other benefits.

Brazil is also facing a similar situation with the 2016 Olympics, when Rio de Janeiro is the host city.

Brazilian officials once again defended their position with predictions of huge benefits for the city and the country.