Brazil to Finance Agriculture at a Clip of US$ 46 Billion this Year

Brazilian farm Brazil's 2009-2010 crop will count on 93 billion reais (US$ 45.9 billion) in financing, of which approximately 15 billion reais (US$ 7.4 billion) are earmarked for family farming.

The information was supplied by the Brazilian minister of Agriculture, Reinhold Stephanes, while leaving a meeting with the minister of Finance, Guido Mantega, during which the crop plan figures were discussed.

"We will have a significant increase over last year's," said the minister, who recalled that the sector received 78 billion reais (US$ 38.4 billion) for the 2008-2009 crop.

Stephanes stated that the 2009-2010 crop plan should be announced in the first or second week of June.

"We have already got nearly all of the data we need for the crop plan. Probably, by the end of this week, we will have analyzed all of the items that we need to analyze."

US$ 592 Billion Credit

The volume of credit in the financial system totaled 1.248 trillion Brazilian reais (US$ 592 billion) in April, a figure equivalent to 42.6% of the Gross Domestic Product (GDP), i.e. the sum of all goods and services produced in Brazil. The figures were disclosed May 27 by the Central Bank.

In March, the rate was 42.5%, and in April 2008, 35.8%. The Central Bank underscored the "maintenance of the favorable performance of public banks," which increased their share of total credit in the country from 37.5% in March to 37.7% in April, "with an emphasis on operations turned to the industry and habitation sectors."



  • 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Your email address will not be published.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.


You May Also Like

Jordan Holds Brazil in the Reconstruction of Iraq Fair

The Brazil in the Reconstruction of Iraq fair, which ended Wednesday, September 14,in the ...

Brazil’s Shoes Exports Drop 9%, But Revenues Zoom Up 8%

External sales in the Brazilian shoes sector dropped 9% from January to July this ...

French footballer hero Zinédine Zidane

It’s True, the French Stole Brazil’s Jogo Bonito, But We Always Have 2010

No doubt the headlines said it better than I ever could: "France Bids Brazil ...

Brazil Exports 31% of World’s Beef. Russia Still Main Importer.

Brazilian beef exports yielded US$ 351.6 million in June, which represented an increase in ...

Rich in Culture and Amazon Luxury Brazil’s Acre Wishes to Lure You In

In northern Brazil, the state of Acre, mixing facts and legends,  is drawing up ...

Brazil’s Trade Surplus Tumbles US$ 13 Billion from Last Year

The Brazilian trade surplus (exports minus imports) reached US$ 734 million in the second ...

Brazilians Will Decide Future of Mercosur when Voting for New President

As the pro-tempore chair of Mercosur in the last leg of his eight years ...

A Plan to End Foot and Mouth Disease from All Americas

American countries should approve soon a plan to terminate foot and mouth disease on ...

Brazil’s New President Wins Amid Fears She Could Overextend State’s Role

Dilma Vana Rousseff, Brazilian president Luiz Inácio Lula da Silva’s handpicked candidate to succeed ...

Brazil Presses Ahead to Reform and Get Permanent Seat at UN

Brazil’s Minister of Foreign Relations, Celso Amorim, says he has felt a “reform impulse” ...