Lula’s US$ 856 Billion Growth Plan Will Start Only After He Leaves Office

PetrobrasFrom the total 1.59 trillion Brazilian reais (US$ 856 billion) forecasted for investment in the second phase of the Growth Acceleration Program (PAC 2), announced by the government of Brazil this Monday, March 29, 958.9 billion reais (US$ 515 billion) should take place from 2011 to 2014 and the remaining 631.6 billion (US$ 341 billion) should be disbursed after 2014.

Most of the funds should go to energy (US$ 588 billion). In oil and gas alone, investment should reach US$ 473 billion, and in electric energy generation, US$ 74 billion.

Exploration and production of pre-salt oil should receive US$ 68 billion, of which US$ 35 billion from 2011 to 2014 and US$ 33 billion after 2014.

These funds should finance evaluation in the following areas: Tupi, Nordeste, Carioca and Iracema. GuarΓ‘, Iara, and Baleia Azul fields as well as the Tupi pilot project should all start operating. A total of 28 drills should be purchased for exploration and production in deep waters.

The PAC 2 forecast for sanitation is US$ 12 billion. For prevention in risk areas the forecast is US$ 6 billion and for the urban modality, US$ 10 billion. In paving, the investment should reach US$ 3 billion. The total investment in these areas should reach US$ 31 billion.

Among the guidelines forecasted for the PAC 2 are the replacement of collection and sewage treatment, as well as the expansion of treatment of solid residues, with new garbage dumps and technological modernization.



  • Show Comments (3)

  • Lloyd Cata

    The Owners Mansion
    The programs and objectives are necessary to maintain a posture of growth, but will the economy be able to sustain the impact of inflation and external currency ‘manipulations’? Remember this is not done in isolation where you don’t have an East-West economic agenda that is intent on ‘capture’ of the Brazilian market.

    Between inflation, corruption, and cost overruns many envisioned projects will become derelicts of dreams unfulfilled, and remember, “dreamers are known for their glorious visions, but it takes ‘engineers’ to bring those dreams to reality”.

    Forecasts of long-range infrastructure should be very conservative at this point. Design and planning should go forward aggressively, with revisions as the global economy stabilizes over the next 2 years. Waste removal, energy infrastructure, ecological stability cannot wait, and should not. Waste planning technology could be the most productive and more importantly one of the most ‘profitable’ sectors in the next economy. “One man’s trash being another mans treasure”. The recycling industry and technology has been hit hard by commodity pricing, but expect the waste removal industry to grow and be more productive. Even accepting of ‘foreign’ waste under certain environmental and “profitable” agreements.
    The French do sequester their spent nuclear materials in a much better way than the Americans and that also can be improved upon. The days of British medical trash being ‘illegally’ dumped on the shores of the developing world must end, along with other waste atrocities around the world. Carbon sequestration, a favorite “taxing” rationale behind the global warming agenda really does not have the visible impact that a mountain of trash has on the quality of life and more immediate impact to people. The waste area has been a sore point between industry, capitalists, and environmentalists for many years. To
    move the issue from environmental destruction to profitability is a challenge that could spark Brazil’s continued expansion. Where I live methane is produced by the organic trash which is used to run public sector transportation.

    Waiting for this shoe to drop;
    ( )

    Y’know, I was waiting for Ann Coulter, Michelle Bachman and the rest of the neo-cons to show up here. Their support, through advertising, is greatly appreciated…it lets me know their watching, as am I ;-):D

  • ..

    [quote]Surely you will spend your inheritance before it is in your pocket, but Lula can always ‘return’ to salvage the dream[/quote]

    Recommended reading: “The Last Plantation”.:-);-):D

  • Lloyd Cata

    Voo-Doo Economics Comes To Brazil
    Surely you will spend your inheritance before it is in your pocket, but Lula can always ‘return’ to salvage the dream :D:D:D
    The US has already mortgaged their future to the ‘wizards’ on Wall Street and now they infect the eyes of Brazilian economists with their magic.

    But…but…please do pick up the trash πŸ˜‰

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