Lula Has a Word to Describe Brazil 2010: Extraordinary

    Fireworks in Copacabana for New Year's

    Fireworks in Copacabana for New Year's Talking about the measures announced last week by his government's economic team, Brazilian president Luiz Inácio Lula da Silva said this Monday, December 14, that Brazil is going to have an "extraordinary" 2010.

    He called attention to the fact that in December 2008, he called on the population to increase consumption, and that now the country finds itself in a more comfortable position.

    "The economy is already growing in a more reasonable manner, and what we did was to announce measures in order to ensure that the economy will grow very strongly in 2010," said Lula while announcing the allocation of 80 billion Brazilian reais (US$ 45.6 billion) for the Brazilian Development Bank (BNDES) to provide financing.

    "If needed, we are going to make another 20 billion reais (US$ 11.4 billion) available to finance (the Brazilian state-controlled oil and gas multinational) Petrobras in pre-salt oil exploration," he added.

    On his weekly radio show, Breakfast with the President, Lula claimed that the decision of extending until June 2010 the tariff reductions for sectors such as the so-called white line appliances is meant to encourage the population to continue buying, as well as to foster production.

    "Aside from continuing to encourage consumption, we are encouraging investment and companies to hire more workers. We are complementing what we did last year."

    Another objective, according to the president, was to enable the private financial sector, which usually does not loan money on a long term basis, to start doing so. To Lula, the measure paves the way for "competition" with the BNDES.

    ABr

    Tags:

    • Show Comments (0)

    Your email address will not be published. Required fields are marked *

    comment *

    • name *

    • email *

    • website *

    This site uses Akismet to reduce spam. Learn how your comment data is processed.

    Ads

    You May Also Like

    Movie Blues

    "You have to direct a film with the same freedom you have when you ...

    Lula in Saudi Arabia

    Lula Calls on Saudis to Join Brazil in Creating Petrochemical Powerhouse

    Brazilian president, Luiz Inácio Lula da Silva, said this Sunday, May 17, at the ...

    Brazil Builds Reefs to Protect Fish from Nets

    The Brazilian government’s fishing conservation program was inaugurated January 2 off the coast of ...

    Pernambuco port in Brazil

    Brazil in Recession, with Industry Due to Shrink 1.7% in 2014

    Industrial-activity data released this week added to worries that Brazil’s economy, already in recession, ...

    Kicking Some Ass

    It all started as a joke. Cartoonist Ziraldo made a drawing for a magazine ...

    Brazil: While Lula is Away, Vice Trips and Bungles

    While Brazilian President Lula is abroad, Brazilians are left in the hands of Vice ...

    Hell’s End

    “We are shutting down what can only be described as an inferno. It has ...

    48% of Brazilian Containers Are Recycled

    Brazil is a global standard for the recycling of materials, according to the executive ...

    Brazil Northeast

    Brazil Northeast’s Worst Drought in 50 Years Harms Agriculture and Threatens Blackout

    The Brazilian Northeast is suffering its worst drought in decades, threatening hydro-power supplies in ...

    Brazil’s Chancellor Busy in Europe Dealing with World Trade

    Brazilian Minister of Foreign Relations, Celso Amorim, lead the G-20 ministerial meeting Wednesday, November ...