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:

  • Show Comments (0)

Your email address will not be published.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

Election Campaign Has Started in Brazil. Even Most Corrupt Are Again Candidates

The political season is on in Brazil. Starting Tuesday, is now legal to campaign ...

Child Labor and Violence Explain Low School Attendance in Brazil

Brazil's Ministry of Education (MEC) publicized a report revealing the principal causes which led ...

Three Stinging Brazilian Playwrights Re-released in the US

US-based Host Publications is launching the 2nd edition of its very first title, Three ...

Brazil Police Evict Indians and Abandon Them on Roadside

Brazil’s Federal Police and Mato Grosso do Sul state police agents, acting under a ...

Record Crop to Boost Brazil’s Sugar Exports by 17%

The record sugarcane crop that Brazil should pick this year opens perspectives for greater ...

Older Brazilians Learning How to Live Alone

One in every ten Brazilians lived alone last year. This is one of the ...

Russian Team in Brazil on a 9-State Meat Inspection Mission

The group of Russian veterinarians who spent the last two weeks inspecting 17 slaughterhouses, ...

No Change in View for US’s Meddling in Latin-American Affairs

Few will find fault with the conclusion that U.S.-Latin American policy has long been ...

Brazil’s Vice-President: Interests Are Halting Country

The president of the Brazilian Supermarket Association (Abras), João Carlos Oliveira, seemed very optimistic ...

Albrecht, an equipment firm in Santa Catarina, Brazil

Brazil: Santa Catarina Investing US$ 765 Million in Equipment and R&D

The industries from the southern Brazilian state of Santa Catarina are planning on investing ...