Is Brazil Growing Fast? Other Developing Countries Are Growing Much Faster.

According to the vice-president of Brazil’s National Association of Financial, Administrative, and Accounting Executives (Anefac), Miguel José Ribeiro de Oliveira, the ballyhoo over growth in the Gross Domestic Product (GDP) should be restrained.

"Among other reasons, because average economic growth in the emerging countries all around the world is proceeding at a much higher rate than ours," Oliveira affirmed.

The executive acknowledged that the growth registered in the first semester is positive, "but it leaves much to be desired, due to the social inequalities that still exist in the country."

The GDP amounted to US$ 412.84 billion altogether between January and July. This result, announced by the Brazilian Institute of Geography and Statistics (IBGE), represents an increase of 3.4% in comparison with the same period last year.

The vice-president of the Anefac believes that these results confirm expectations that the GDP will grow 3-3.5% this year.

ABr

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