Lula Still Hopeful Brazil Will Grow 4% in 2009

Cuiabá, capital of Mato Grosso state in Brazil The government of Brazil, despite the global economic crisis, is going to work for the country's Gross Domestic Product (GDP) to grow 4% in 2009, said Brazilian president Luiz Inácio Lula da Silva in Rio de Janeiro on Monday, December 22, in an address to European and Brazilian businessmen during the Brazil-European Union Partnerships Business Seminar: Challenges and Opportunities for Coming Years.

He called once again for rules limiting speculation in the global financial system and stated that Brazil is prepared to face the crisis.

"The country should not go into a recession and is going to continue growing. It will certainly not grow the 6% or 7% we would like it to grow, but it may grow 4% and we are going to work for that," said Lula.

"Despite many people saying that Brazil should grow 2.8% or 3%, I would like businessmen to know that in the government and in the economic team we are going to work targeting the perspective of 4% of economic growth. There should be no government projects halted due to the crisis," he added.

Lula defended broad reforms of the international financial system to avoid new crises of the kind taking place and said that the current economic problems are the result of "unguided financial speculation".

"We must strengthen the mechanisms for control, transparency and the representativeness of decisions that affect the whole of humanity. Many cannot continue paying for the irresponsibility of few."

According to the president of Brazil, the country's answer to the crisis has been to "bet on investment, on the expansion of consumption, on the defence of employment and on the support to industry."

On the spur of the moment, he returned to stating that he continues optimistic and that with maintenance of consumption in the country alone, the negative effects of international crisis may be faced.

"I am the main stimulator of the return to growth. I am going on television every day to ask people to buy, export and import as that is what the economic wheel needs."

The seminar also included the presence of the presidents of France, Nicolas Sarkozy, and of the European Commission, José Manuel Durão Barroso. The meeting is aimed at stimulating bilateral commercial exchange.

ABr

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  • Show Comments (4)

  • dnbaiacu

    Great link Joao………….
    That was nothing but the truth!

    I hope all is well with you and that 2009 will be prosperous for you and everyone else. 🙂 🙂

    I have had to change ” o pedreiro” with my projects. He had too many irons in the fire. You know how that goes. And no concept of the fact that “time” is valuable. I am so glad I am doing things from the States.. Learning my lessons from a comfortable distance and not having the temptation to strangle someone. 😀 😀 😀
    You wouldn’t believe some of the stories. What’s funny is that I am taking things in stride. Like during the construction of a ” laje” people managing to get away with 25 buckets of cement materials , so the story goes.. 😀 😀 :D!!!! I have to look at it as “caridade” and grin and bear. It was my fault for wanting to “apoyar” a friend of the family. Never was my idea from a truly business standpoint. But I wanted to give this guy a chance. And appease my family at the same time. They are “administrando” everything. But now they will have to do it all MY way and they all should know from experience that it will be best .And I can take all the gulit for being the “capitalistic enemy”. 😀

  • João da Silva

    dnbaiacu
    [quote]Great link Joao..[/quote]

    Thanks, Dnb, but the credit really goes to Forrest who sent me the link (I hope he doesn’t sue me for violating his IPR!)

    [quote]I hope all is well with you and that 2009 will be prosperous for you and everyone else.[/quote]

    We had a great X-mas party last night with some friends whom I haven’t seen for the past couple of years. Good to be in some sane company :D. Thanks for asking and I hope you had a great gathering too.

    [quote]I have to look at it as “caridade” and grin and bear. It was my fault for wanting to “apoyar” a friend of the family. Never was my idea from a truly business standpoint. But I wanted to give this guy a chance. And appease my family at the same time. They are “administrando” everything. But now they will have to do it all MY way and they all should know from experience that it will be best[/quote]

    I have gone through this “Caridade” and “apoiar a familia” business and learnt my lessons a few years ago. My advice to you is to do it YOUR way. Just ensure that your name is in the business and don’t let them “administrar” any merda. If in doubt, re-read the link.

    [quote]And I can take all the gulit for being the “capitalistic enemy”.[/quote]

    Oh, what the heck. If you are dubbed a villain, better assume the role. Dont let your MomÀ‚´s good nature influence on your business decisions.

    BTW, I was reading some comments (of Brazilians) in an on-line newspaper and one guy wrote about the dictatorship of “Neo-Sindicalismo”. I had a big chuckle !

    You have a great X-mas . Are you spending the weekend with your parents?

  • bo

    With “Lula-onomics” Brazil will no doubt have a banner year of 10% growth in 2009….as long as no one can get their hands on the real figures! 😉

  • João da Silva

    Dear all,

    I am posting below a link sent to me by one of our distinguished fellow bloggers:

    [url]http://www.snopes.com/politics/soapbox/knox.asp[/url]

    It contains a letter addressed by the President of the GM to its employees and the open letter response by the President of Knox Machinery. I hope our countryÀ‚´s planners get to read the letters and derive some lessons.

    Merry Christmas to you all.

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