Lula Has a Word to Describe Brazil 2010: Extraordinary

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:

Ads

You May Also Like

Brazil’s Lula Admits His Party Did Wrong But Does Not Accept Blame

Brazilian President, Luiz Inácio Lula da Silva ratified that if the Workers Party, – ...

An ethanol distillery in the state of Paraná, south of Brazil

Brazil Expects Half of Its Ethanol Industry to Be Foreign Owned

The participation of foreign capital in the Brazilian ethanol industry should reach 50% in ...

In Brazil the Left Thrives

The big winners of Brazil’s 1964 military coup, unlike what the Brazilian military think, ...

Brazilian Court Repeals Fines Against Veja Magazine and Daily Folha

At least fourteen media outlets in Brazil have been fined in 2008 by the ...

To Contain Inflation Brazil Raises Prime Rate to 12.50%. 5th Hike This Year

The Brazilian Monetary Policy Committee (Copom) of the Central Bank unanimously decided to raise ...

Brazil’s Natural Gas Fleet Close to 1 Million

Prior to the end of 2005, it is possible that the target set by ...

Brazilian Gol Adopts Boeing Toolbos

Brazilian Airline Gol Adopts Boeing’s Toolbox for Its 737s

Brazilian Airline Gol announced that it has chosen Boeing's Maintenance Performance Toolbox to help ...

Brazil Wants to Make Eating in the Streets Safer

Brazil’s National Health Inspection Agency (Anvisa) is forming partnerships to make sure that the Brazilian ...

Lula Starts Close-to-US$-1-Trillion Plan to Be Carried out by Next President

The president of Brazil, Luiz Inácio Lula da Silva, announced Monday an US$ 886-billion ...

Saudis Have Oil for 140 Years, says Aramco Chief in Brazil

There is no reason to fear a shortage in oil supply. This is what ...