Brazil’s GDP Growth on Target

The Brazilian government’s primary surplus from January to July reached US$ 12.853 billion (37.980 billion reais). The target set in the Budget Guidelines Law (LDO) was US$ 11.201 billion (33.1 billion reais).

According to the head of the Secretariat of the National Treasury, Joaquim Levy, in spite of the good performance it is still too early to know whether or not it will translate into more resources for government discretionary spending.


He pointed out that the tendency is for monthly primary surpluses from now until the end of the year to be smaller. “It is possible that in December we will have a deficit,” declared Levy, adding that expenditures seasonally rise in the second half.

In July the primary surplus was US$ 1.232 billion (3.641 billion reais), compared to US$ 1.924 billion (5.684 billion reais) in June.

The year-end target for the primary surplus is US$ 13.909 billion (41.100 billion reais), or 2.45 percent of GDP.

Levy said the GDP growth rate target of 3.5 percent this year would be reached. He pointed out that foreign investments were strong and the stock market was on the rise.


“That is a good indicator,” he said. Levy said growth in 2005 would have a good spring board in this year’s growth. “This is a matter of organizing the market, guaranteeing competition and establishing regulatory norms,” he declared.

Levy explained that last year government discretionary expenditures were only US$ 3.384 billion (10 billion reais) mainly because of inflation in 2002.

Agência Brasil


Tags:

Ads

You May Also Like

Going Nuclear Is the Answer, Brazil Finds Out

Although Brazil has an enormous hydroelectric potential (estimated at almost 260,000 MW), only 68,000 ...

Brazilians to Get 1.2 Bi Free Condoms from Government in 2009, a World Record

The Ministry of Health of Brazil announced that it will purchase 1.2 billion condoms ...

Pataxó Indians from Brazil

Another Brazilian Indian Leader Murdered in Land Conflict

The Brazilian Pataxó Indian Hã-Hã-Hãe Aurino Pereira dos Santos, 40, married and without children, ...

In Brazilian Democracy Law Forbids Making Fun of Electoral Candidates

In Brazil, a never-revoked election law from the era of the Brazilian military dictatorship ...

Green Movement Grows in Brazil a New Crop of Alternative Fertilizers

In the interior of Brazil, in rural properties, the manure of animals in paddocks, ...

Brazilian Airline TAM Grows 20% in International Market Getting 38% Share

According to data for June from ANAC, Brazil’s National Civil Aviation Agency, Brazilian Airline ...

Tom Jobim and Vinicius, the Brazilian Odd Couple Who Started It All – Part Two

By now it should be apparent the lone, dissenting voice crying out in the ...

In Brazil, Still a Long Way to Go, Baby

Female participation in the working world in Brazil is marked by far lower salaries ...

Brazil’s Corruption Scandal Topples Almighty Chief of Staff

Brazilian chief of staff José Dirceu resigned Thursday to return to Congress and “defend” ...

Sustainable Development Creator Scolds Brazil

The author of the concept of sustainable development, Gro Harlem Brundtland, ex-prime minister of ...