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Mantega clarifies that, in general, the data used in the study are outdated "and are not picking up the recent phenomenon that is occurring in Brazil."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

Tags:

  • Show Comments (1)

  • Guest

    ??????
    …if in general, as Mantega said, the data used in the study is outdated, I guess it is also outadated for all other countries in the ranking.
    Therefore that should not change anything…or just very little…at best !!!

    But if there is recent changes, this should be reflected on next year rating ! right ? But dont you think that other countries will also be better ????

    Finally….with the arguments that Mantega is mentionning, it seems to me that he mix up growth rates and productivity…which has nothing to do in common !!!

    but…will see next year !

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

Mergers and Acquisitions Fall 21% in Brazil

There were a total of 66 mergers and acquisitions in Brazil, in July, according ...

Brazil Leather Exports Grow 42% Thanks to Italy, China and US

Leather exports from Brazil totaled US$ 104.41 million in January, representing growth of 42% ...

Gilberto Gil more active than ever

Gilberto Gil, the most Baiano of Baianos singer and composer, has again become all ...

Market Goes Up While Brazil Follows Probe on Vote-Buying Scheme

Brazilian and Latin American markets powered higher, while investors ignored mixed market movement in ...

Despite Losing the World Cup Brazil Is Still Number One in Soccer

Despite it bad performance in the recent World Cup in Germany, Brazil continues the ...

Brazil’s Bellinati Plays a Jobim Few People Know

Possessing a quicksilver virtuosity, arranger, composer, scholar, and guitar virtuoso Paulo Bellinati, indisputably one ...

Brazil’s Bar Calls for Criminal Probe and Possible Impeachment of Lula

The council of Brazil’s federal Bar Association (Conselho Federal da Ordem dos Advogados do ...

Brazilian Black Female Workers Make Half As Much As White Women

Black and mulatto women in Brazil receive, on the average, around half of what ...

Change of Plans Spared Marina’s Life. She Should Make a Formidable Brazil Presidential Candidate

Environmental activist and politician Marina Silva could have been on the plane that crashed ...

In Brazil, Charity Begins at the Border

The population of Guyana has been afflicted by heavy rains and floods for nearly ...