• Categories
  • Archives

Contrary to Experts Brazil’s Finance Minister Forecasts a Minimum 4% GDP Growth

Guido Mantega, Brazil’s  Finance Minister is still maintaining his estimate of growth of between 4% and 4.5% for the Brazilian Gross Domestic Product (GDP) this year, despite the reductions forecasted by the market.

"The 3.5% forecasts are pessimistic," stated Mantega, in reference to the most recent analyses.

Financial institutions heard by the Central Bank have reduced their forecasts from 3.55% to 3.53%. "The research changes according to the wind," commented Mantega. According to the minister, the analysis is based on momentary happenings and does not reflect the global context.

The new estimates have been made based on the performance of industries in the month of July, when sales dropped 3.75%. To the minister, this cannot be analyzed alone, as lower sales were influenced by the World Cup, in which Brazil was early disqualified, various strikes and even safety problems in São Paulo, caused by prison gangs who terrorized the city.

"In July there was already an acceleration of the Brazilian industry. The auto industry has accelerated, the paper and cardboard industry has too. There is greater consumption of electric energy. We already have all indications that the industry is growing over 4%," he pointed out.

Also according to the minister, "the salary mass has grown. All salary increases in the first half of the year were greater than inflation. Brazilian citizens now have a greater buying power."

Tags:

  • Show Comments (1)

  • ch.c.

    A joke, the government estimates.
    Just look at their estimates for last year and how slow they were to re-adjust to the reality.

    This year their estimates are even rosier. Guess why ! smile….

    No doubt that by “coincidence” they will reduce their estimates by the end of October. Also guess why ! smile…..

    Lying, hiding and corruptions were the only consistencies with the actual government.

Your email address will not be published.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

Brazil to Train 300,000 Youngsters

More than 300 thousand Brazilian young people in the 16-24 age bracket will receive ...

Brazilian Presidential Candidate Serra: a Life of Opposition and Solid Education

Brazilian presidential candidate José Serra was born into a working-class family of Italian immigrants ...

Brazil: Lula’s PT Splits

The creators of the new Socialism and Liberty Party, a dissidence from the government’s ...

Despite Crisis Sale of Oil Products Grows 3% for Brazilian Petrobras

At least for now, the international financial crisis has not affected Brazilian state-controlled oil ...

The Boys from Brazil

  Oliveira Vianna who, in a series of books, professed the view that the ...

Farmers Make Less But Production Is Up in Brazil

Brazil’s  National Supply Company (Companhia Nacional de Abastecimento) (Conab) has just released its third ...

Sí£o Paulo, Brazil, More than a State, a 40 Million People Country

The state of São Paulo in Brazil reached the 40 million inhabitants mark this ...

Brazil and Australia Agree Only EU Can End Impasse at WTO

The Australian Minister of Foreign Affairs, Alexander Downer, affirmed, Wednesday, January 4, that no ...

Brazil’s Oil Production Abroad Grows 8%

Petrobras, Brazilian state-controlled oil multinational, had average international oil and gas production of 218,117 ...

Kássio Adriano, suspect of killing German priest Wolfgang Johannes in Brazil

German Priest Killed in Brazil. Murderer Says Man Forced Him to Have Sex

German priest Wolfgang Johannes Hermann, 46, was knifed to death Tuesday afternoon, April 10, ...