Brazil on a Roll: 5% Growth in 2010 and 5th Largest Economy by 2016

    25 de março street in São Paulo, Brazil

    25 de março street in São Paulo, Brazil The Brazilian government is considering extending stimulus tax cuts on home appliances even as the country's economic recovery shows signs of gaining momentum. Tax cuts helped Brazilian auto industry sales to soar.

    Brazil's Finance Minister Guido Mantega said this Monday, October 26, he would decide by the end of the month whether to extend tax cuts on home appliances. The decision hinges on a commitment by retailers and manufacturers to hire more workers and provide better financing to consumers, he told reporters in São Paulo.

    The International Monetary Fund last week said Brazil and other Latin American economies emerging quickly from the global financial crisis should consider removing fiscal stimulus measures as strong capital inflows put pressure on currencies to appreciate.

    Brazil in April cut taxes by as much as 10 percentage points on several home appliances, providing incentives for consumers to boost spending and lead the US$ 1.6 trillion economy out of its first recession since 2003. Retail sales in August rose for the fourth straight month, by 0.7% from July.

    Brazil is expected to grow 4.8% next year, according to a last week Central Bank survey of about 100 economists. In July, economists were forecasting 2010 growth of 3.5%.

    Brazilian President Luiz Inácio Lula da Silva said Monday the country needs lower taxes to spur domestic demand and meet a World Bank forecast to become the world's fifth-largest economy by the time it hosts the 2016 Olympics.

    Lula addressing the nation in his weekly radio program said lower taxes coupled with government steps to boost credit will encourage Brazilians to "purchase what they still don't have."

    Writing today in his weekly newspaper column "The President Answers," Lula informed that the government has been acting to stimulate production and avoid speculation and as example he cited the recent introduction of the 2% Financial Operations Tax on short term foreign investments.

    Another measure to prevent speculation, according to the president, is the reduction in Brazil's key interest rate, the Selic. He stressed that at 8.75% at the moment, the Selic is the lowest in Brazilian history. Lula said also that the government has reduced the spread of public banks to force private banks to follow the same path. 

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    • Show Comments (21)

    • lalaland

      i would be sooooo disappointed in brazil if they did so!

    • lalaland

      sos
      God stand by the world if brazil and the us go together!

    • dnbaiacu

      Synchronicity…
      [quote]. Our worry should be the Russians and the Chinese..

      Now here’s the plan :
      [/quote]

      It’s all going to synchronize into global socialism. Democracy fused with Communism. At this point everyone is economically dependent on the other and ideaologies HAVE to be fused by NECESSITY. This is what we are witnessing. Social chaos and technology will insure this process.
      The war is over the economy globally and “ideas”.
      The U.S owes the world,,,, literally and the “payment” will be it’s idea of “freedom”. Those in support of this so-called “freedom” , will be those who “comply”.. Just like in Russia and China.
      You can feel this in the air.
      In the meantime Brazil enters the stupor of hyper-capitalism. Where AS USUAL only those that truly understand how money works, and that inflation is a hidden tax, will benefit. The rest will be economic slaves. And the blessed will be those content with the status quo ,(not acculmulating debt) not taking on more than they can handle or envying those that WILL. 😉

      It all comes down to what you think the “good life” is ,,,,, in your head. 😉
      Brazilians are in a prime positions as individual citizens to look at what happened and is happening in the U.S
      Take advantage!

    • sfsmurf

      Who needs Big Macs
      It is true that in Brazil imported goods like Levis and iPods and consumer items from multinational corporations like McDonalds ARE expensive. But no one needs to eat a Big Mac to live well, and Brazilian clothing is just as fashionable as imported brands. I’ll take a fresh Brazilian meal over a Big Mac any day, and I find a Brazilian-made bermuda far more comfortable than a pair of Levis. Brazil is a rising power. The future of Brazil is now.

    • Bo

      HAHAHAHAHA
      [quote]As I said before about Switzerland:
      Neutrality is not an option for them but a must in order to survive

      And I will extend this argument by saying:
      Neutrality equals obedience [/quote]

      Yes, none of us should waste our breath

      [quote]Now here’s the plan :

      Brazil, which soon will join our super league, they deploy their army in the south.

      US, we deploy our army in the north.

      Canada, you go first in the middle as shields..

      What do you think guys ? Let me know.. [/quote]

      I don’t know about the Brazilians but I like the plan and Im sure the Canadians will love it too more than we do as they always enjoy being helpful.

      But, I think we could get the Aussies into our league too since apart from fulfilling the big economy criteria, they also fulfil the “bigger than Europe sized country” criteria.

      And we could extend our plan:

      The Brazilians go south.

      We go North.

      The Aussies go diagonal.

      Canadians remain on the frontline right in the middle of all of us.

    • Arnold

      Brazil, US and Canada – The Plan Here
      Before going into details about the plan with you folks, I would like to reassure you all that this swiss lunatic here should not be feared.

      I can go personally to Switzerland in the Alps and find the cave where this chocolate eating lunatic is hiding, show him my American passport and then command him to stop messing with the Brazilians.

      As I said before about Switzerland:
      [b] Neutrality is not an option for them but a must in order to survive[/b]

      And I will extend this argument by saying:
      [b] Neutrality equals obedience [/b]

      We should no longer talk about Switzerland, this word is not important for us. they are just a mosquito without its wings which cant possibly sting.

      Europe should not worry us either, it only takes one of us to put them in their place. Our worry should be the Russians and the Chinese..

      Now here’s the plan :

      Brazil, which soon will join our super league, they deploy their army in the south.

      US, we deploy our army in the north.

      Canada, you go first in the middle as shields..

      What do you think guys ? Let me know..

    • Arnold

      America welcomes Brazil
      We Americans welcome Brazil to our super cool league of powerful nations. Soon our friends of the south will be part of our super league.

      Do not fear the attempts of an old insane crazy swiss to stop you from joining us, his mind is stuck in the 50s (I bet so his clothes) and the swiss have always been no threat, they are too tiny, and they always obey orders from powerful nations without whining..

      Poland is a bit bigger than Switzerland but poles are no reason for concern as they are in a league just above the Zimbabweans.

      In fact, the whole Europe is too small for us.. Their countries are midgets compared to ours. Europe together still midget. Their countries are old, boring, out of fashion, with ageing populations and declining economies.

      Brazil, US, Canada: We are big, super hyper big combined, We are the new world, We dictate full stop.

    • Arnold

      Swiss army
      [quote]I am quite confident that we Brazilians also could slave the Swiss if we wanted to.[/quote]

      Yes, I believe the Brazilians could crush the Swiss too… The Swiss never had an army, they are just too small, neutrality is not an option for them but a must in order to survive, in simple words: they are an easy prey… They would surrender even before you finished speaking up the word Surrender..

    • Bambu

      How in his little mind can he see Switzerland better than the US ? We all know that we could slave his people if we wanted to.
      I am quite confident that we Brazilians also could slave the Swiss if we wanted to. I know what he will say, our technology is crap and our ships are bad ones. but hey, they don’t have ships, just lake boats, even those lake boats are afloat just for a few months each year as his lakes are frozen most of the time.

      Then, if his “army” which i don’t think they have one as his country is too midget, but if they engaged in a war with Brazil, they would have to ask permission from France and Italy first in order to reach the sea. Planes? They don’t make planes in Switzerland, we do in Brazil, what they make in Switzerland is just chocolates which give diarrhoea if you eat them and watches that they make in incredible huge amounts at the expense of quality.

    • Arnold

      SO, how can midget Switzerland be any better than America if we can crush you at any time ????
      If this ch.c. fool gives me a good and reasonable answer to the question raised above, I will renounce my American nationality and declare loyalty to the swiss.

      How in his little mind can he see Switzerland better than the US ? We all know that we could slave his people if we wanted to.

    • Bo

      HAHAHAHA
      Ch.c. you make me laugh… The British guy here only said that you are mistaken about the price of a hamburger in London and then you dedicated a whole page to insult him and his country..

      How funny..

      The Brit here, perhaps by innocence, said you are mistaken about the price, little he knew that anyone who disagrees with your numbers, you bark..

      [quote]I can tell where this ch.c. gets his numbers from… (from the top of his head, right above his lice) [/quote]

      Yes, that has been proven now, especially by his reaction afterwards against the Brit…

      Well, well, well… You didn’t say anything about your army, did you ?

      I was expecting an answer when I said Switzerland exists and will exist as long as it doesn’t pose a threat to America. I don’t think you live in the same world as we all do. Your swiss world is all a very good dream

      SO, how can midget Switzerland be any better than America if we can crush you at any time ????

    • ch.c.

      Im British and Im in London
      Great !
      tHEREFORE You too are living in AN EMERGING NATION…COLLAPSING FOR DECADES !

      YOUR CURRENCY LOST 35 %…. IN ONLY 2 (TWO) YEARS – AGAINST THE APPARENT NEXT ICELAND THAT SWITZERLAND IS !

      YOUR CURRENCY WENT FROM 12 Swiss franc / 1 BP – TO 1,66 Sfr TO 1 BP TODAY…SINCE 1970 !

      THE BP HAS BEEN WORSE THAN THE US$…IF YOU DID NOT KNOW.
      the US$ went down by “only” 75 % since 1970, the BP more if you cant figure that out !
      AND NOT JEALOUS I AM !
      YOU SHOULD !
      SHAMEFUL YOU SHOULD BE !
      AND NOT SHAMEFUL I AM !

      And to the idiot ……. sorry but but but published today in a BLOOMBERG ARTICLE ! Not out of my mind….wether you like it or not !
      i CANT INVENT the names, prices, cities referring to the U.S. Jeans and Pampers as I stated above.
      SAME FOR McDo !

      This said, in 40 years, RED NECKS kept their RED NECKS !!!!!!!
      Viva Brown, Blair and all their predecessors !
      Keep Working harder…harder…harder and more importantly…LONGER AND LONGER HOURS !

      fINALLY….LIKE THE US$….I LOOOVE BUYING LOW AND CHEAP !
      Thus I also buy and accumulate the BP !
      but ready to SELL AGAIN IN A FEW YEARS OR SOONER. It will be ONLY a Bear Market Rally…IN A SECULAR DOWN TREND !

      THAT IS WHAT EMERGING NATIONS CURRENCIES DO ALL THE TIME !
      Be it for USA and worse (as stated above) the RED NECKS CURRENCY !

      Enjoy YOUR FOG…..AND FOGGY CURRENCY !
      PRINT MORE AND MORE !
      THE UK Central Bank should consider SEIZING…..LEXMARK….THE BIG US PRINTER COMPANY !
      Or seize….ALL the RED NECKS PERSONAL HOME PRINTERS….if they cant afford buying or seizing LEXMARK !
      Eventually Ohhhhhhlalala (Obama) will put his VETOE !
      HE TOO NEEDS…LEXMARK PLUS ALL THE COW BOYS EXISTING HOME AND CORPORATE PRINTERS !

      😉 😀 😉 😀 😉 😀 😉 😀 😉 😀 😉 😀 😉 😀 😉

    • US_Male

      Who cares about Switzerland ..it sucks and the leave the polish people alone..soon or later they will cross the Atlantic again searching for a better life, once they know that they will be the new HIGH TAX PAYERS in Europe for Western Europeans Baby boomer’s. Europe is going to change..again
      I’m glad Brazil is doing what it suppose to do and it’s sucks that my country doesn’t do what it always preach. I hope that will change.

    • Bo

      Ch.c
      Don’t you know that we can cut off our feeding pipe to Switzerland at any time ? Don’t you know that if Switzerland exits it’s because America allows ?

      You have no army, and if one day we decided to wipe you out we could well do it at a blink..

      What do you have to say about this ? That the swiss could build an army by gathering all its people and those milky cows ? Still wouldn’t be enough to take us down nor anyone.

      Ah ok. you would say: Please we’re neutral.. yes right, neutral my ass.

    • Arnold

      Switzerland
      Switzerland is as good as Poland….

    • ……

      HAHAHA
      [quote]Im British and Im in London right now and I can tell you right now that a Macdonalds hamburger does not cost À‚£2.29 quid, it’s much more, unless you go to Kebab shops here for a Sish Kebab.. [/quote]

      I can tell where this ch.c. gets his numbers from… (from the top of his head, right above his lice)

      It’s funny how he seems to know prices of things from cities thousands of miles apart with precision. He’s like superman. He can go to these 3 cities in the same day and know their current prices on the same day.. This Brit guy proved how moron this ch.c. is…

    • Brit

      To the CH.C here
      Im British and Im in London right now and I can tell you right now that a Macdonalds hamburger does not cost À‚£2.29 quid, it’s much more, unless you go to Kebab shops here for a Sish Kebab..

    • ch.c.

      Ch.c. is very jealous of Brazil ???????
      SO TRUE !
      Jealous that brazilians maids earn ????? US$ an hour, against US$ 25.- an HOUR HERE !
      Jealous that brazilians policemen in uniform, aged 30-35, earn ?????? US$ per month, against about US 7-8000.- HERE !
      Please….do answer to my above questions very fairly.

      Are Your Brazilians McDo so cheap….do you believe ??????
      May be not….bunch of idiots Laura and sfsmurf :
      Here it is published today
      “Buying McDonaldÀ¢€™s Corp.À¢€™s flagship hamburger costs 8 reais in Sao Paulo, or $4.60, compared with $3.99 in New York and 2.29 pounds in the U.K. capital, or $3.75.

      No doubt that brazilians maids and policemen can make an orgy of McDo with their ???????? wages !
      RIGHT OR NOT ?

      Do you want more today news comparisons ?
      No problem :
      “. San Francisco-based Levi Strauss & Co.À¢€™s 501 jeans for men start at 189 reais, or $108.70, at stores in Rio de Janeiro. On LeviÀ¢€™s online store in the U.S., they start at $46. Small-size Pampers diapers made by Procter & Gamble Co. of Cincinnati go for 18 cents per unit when bought in a bulk package at Bentonville, Arkansas-based Wal-Mart Stores Inc.À¢€™s online store. At Wal-Mart in Brazil, a diaper costs 55 centavos, or 32 cents. “

      Guess what is going to happen next……sooner or later.

      No doubt that brazilians maids earning ?????? can easily afford the above prices ! and so do Brazilians policemen !
      RIGHT OR NOT ?????????

      Stupid questions to junkies :
      And how could the tens of millions brazilians living in Favelas…can afford the above prices ????
      And how couls the tens of millions brazilians earning the minimum wage of below US$ 350.- can afford these prices ???????
      And how could the tens of millions brazilians earning NO wage, or at best BELOW the minimum wages….can afford these prices ???

      Enjoy your GREAT lives.—for STRUGGLING !
      No doubt elsewhere such as in my country not only the air is less polluted than in Brazil, the streets are cleaner than in Brazil, we DO NOT have SLUMS as in Brazil, our education is better than in Brazil, our illegals maids earn a lot more than yours, so do our policemen, and our unemployment rate is at 3,5 % despite the economic crisis.
      What about the unemployment rate in Brazil…..the World Best Country…by the way ?????
      And what about USA the World Second Best EMERGING COUNTRY Unemployment Rate ???????

      And hopefully the U-S. citizens, the World Best Second (After Brazilians…of Course) are VERY VERY VERY HAPPY
      to have a median real estate price of US$ 176’000.- as per very recent stats !
      Median doesnt mean Average !
      Median means 50 % ABOVE and 50 % BELOW !
      Not the same thus as…. Average.

      Whoaaaaaaaa….in my under developped country (compared to Brazil and the USA…of course) with such a price WE COULD NOT EVEN BUY A 25 SQUARE METERS DECREPITATED STUDIO !!!!!!

      Long lives to North and South Americans !

    • sfsmurf

      Laura….very true! The responses to any article that speaks well of Brazil are so predictable. Ch.c and Polish Boy are either jealous of Brazil or they didn’t have any fun on their one week holiday in Brazil.

    • ….

      ….
      This polish boy’s name is Marek and he is always calling Brazil a hopeless country and Brazilian people not decent humans. And even he can’t stop calling the US a soon to be third world country. He is saying these things because he’s very angry that other countries are achieving things that Poland has never achieved in its centuries of history and much less chances of achieving something now since when his country joined the EU all polish people fled in mass to England, flocking like birds into England to shovel shit in public toilets.

    • Laura

      We will have 3 types of feedback here
      One from ch.c. complaining that the figures are wrong, the favelas gangsters in Rio are threatening at gun point the people from the World Bank to show this figure and some more Brazilian men are unfaithful talk from ch.c..

      The second type of feedback,

      From a jealous Polish boy saying Brazil is hopeless, its people are not decent human beings and he doesnt bet on Brazil as a country of the future, even though Brazil is not fighting to be a country of the future, its people are fighting to grow out of poverty. But this boy will say it wont happen and Poland and its communism will rule in the end (even though Poland has no people, they fled to England after joining the EU)

      Then we will get a very very few other people who will give Brazil some praise for this article.

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