New Data on Brazil’s Low Competitiveness Are Not Accurate, Says Minister

Brazil dropped eight places in the global competitiveness ranking, according to a report released Wednesday, September 28, at the World Economic Forum, in Geneva, Switzerland. The country slipped from 57th to 65th place.

This fact, however, is not inconsistent with the new virtuous cycle of development that is occurring in the country, according to the president of the National Economic and Social Development Bank (BNDES), Guido Mantega, speaking at the Federation of Industries of the State of Rio de Janeiro.

Mantega clarifies that, in general, the data used in the study are outdated "and are not picking up the recent phenomenon that is occurring in Brazil."

According to Mantega, for the first time in its history, the country is experiencing a combination of economic growth and job creation. This new development cycle began in 2004, since 2003 was a year of adjustments, he explained.

The president of the BNDES said that "The average rate of economic growth surpassed that of the previous period, of the last decade. The levels of growth in industrial productivity are unprecedented (10% in two years)," he noted.

Mantega expressed confidence that the tendency is for this positive trend to accelerate and deepen, due to the structural projects that are being put into effect and will impart more dynamism to the current situation.

"We are moving from an early plateau to a plateau corresponding to the maturation of this trend," he affirmed.

The structural projects in the steel, petrochemical, and hydroelectric sectors will be implanted, starting now, Mantega informed. The bidding process for the supply of new energy, for example, will lead to the construction of new hydroelectric plants and transmission lines, Mantega said.

He also referred to the announcement that will be made in the near future concerning the expansion of the petrochemical complex, as well as projects in the areas of cellulose and other traditional industrial sectors.

Agência Brasil

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