• Categories
  • Archives

Brazil’s Economy Hasn’t Been That Good in Decades, Says Finance Minister

Brazil’s Minister of Finance, Antônio Palocci, says that the country is going through its best growth phase in decades.

“We grew 5% in 2004 and the expansion continues. You can see that because of 1.4% GDP growth in the second quarter of this year. This is robust growth showing that we are in an important growth cycle the likes of which Brazil has not seen for decades.


“And this growth is occurring along with constant and significant drops in the unemployment rate,” said the minister.


Speaking at the Institute of Superior Studies (Inae), Palocci praised the debate that is taking place regarding institutional reform in Brazil, calling it an important initiative that will “increase, ripen and spread awareness of the role of the country’s institutions in economic and social development.”


Palocci went on to say that sound institutions that people can trust are essential to the creation of an environment propitious for sustainable growth.


Basic Basket


According to Brazil’s Dieese (a union-linked socio-economic statistics and study group), there has been a drop in the percentage of a minimum wage (300 reais – US$ 127) that it takes to buy the so-called basic necessity basket.


The percentage was 56.02% in July and has now fallen to 54.14%. For the sake of comparison, a year ago it cost 67.61% of a minimum wage to buy a basic necessity basket.


Agência Brasil

Tags:

  • Show Comments (1)

  • Guest

    dont like site
    yea i dont like this site it hasn’t helped me at all and now im gonna fail my project so in your face

Your email address will not be published.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’s Finance Minister Might Step Down to Coordinate Lula’s Reelection Campaign

Latin American stocks advanced, with Brazilian shares gaining on continued investor enthusiasm over Brazil’s ...

Lula Rushed to Hospital While Getting Ready to Fly to Davos

The president of Brazil Luiz Inácio Lula da Silva was undergoing tests in the ...

A New Low in Brazil: Only 31% Are Happy with Government’s Job

Brazil’s latest Sensus Institute/National Transportation Confederation (CNT) public opinion poll on the government shows ...

Despite Crisis Brazil’s Retail Grew Almost 6% Last Year

In 2009 the turnover of Brazilian retail trade grew 5.8%. It was the lowest ...

Boeing Tragedy: Aviation Leaders Beg Brazil to Not Indict Air Controllers

Several international aviation organizations including the  Flight Safety Foundation and the National Business Aviation ...

Negative Results in Food and Fuel Drag Retail Sales Down in Brazil

The volume of retail sales in Brazil in April rose 3.40%, and earnings, 11.82%, ...

Brazil Coaxing Russia to End Presto Its Embargo on Brazilian Meat

Brazil is in Moscow to discuss Russia’s resumption of pork and beef imports from ...

Chile and Uruguay Ban Beef and Pork from Brazil

Uruguay and Chile banned the import of beef and pork from Brazil following the ...

New Poll Shows Dilma 12 Points Ahead of Serra in Brazil’s Presidential Runoff

Dilma Rousseff, Brazil’s presidential candidate handpicked by Lula to succeed him, has widened her ...

Leprosy Still a Plague in Brazil

Brazil is second, after India, for the total number of cases of leprosy in ...