Brazil Trade Surplus Doubles

Direct foreign investments in Brazil have risen sharply in October and should reach US$ 1.6 billion, up from US$ 646 million in September.

The forecast was made by the head of Brazil’s Economic Department at the Central Bank, Altamir Lopes, who reports that up to October 20 total inflow of foreign investments had already reached US$1.1 billion.


Lopes went on to say that the now constant surpluses in Brazil’s current transactions have established what he called “a very calm situation allowing us to even reduce our foreign debt.”


He also pointed out that private sector debt is down, a factor which alleviates the country’s vulnerability to shocks coming from abroad.


September was the fifth consecutive month that Brazil registered a trade surplus of more than US$ 3 billion.


That has a positive impact on current transaction, with the result that the balance of payments surplus is now running at over US$ 9.6 billion, more than double what it was for the whole of 2003 (US$ 4 billion).


In conclusion, Lopes says the outlook is good, even though a lot of interest payments fall due this month.


He says the Central Bank is forecasting a balance of payments surplus of US$ 900 million.


Agência Brasil
Translator: Allen Bennett

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Your email address will not be published.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

Brazil Arrests 32 for Environmental Crimes, 25 Are State Employees

Brazil has unleashed today, August 30, a police operation called Euterpe to catch people ...

Safe Sex in Brazil: 25 Million Free Condoms on Carnaval, 1.5 Billion in 2006

The Brazilian Ministry of Health’s National Program for Sexually Transmitted Diseases (DST/AIDS), is ready ...

Calendar

President Fernando Henrique Cardoso unabashedly stands by everything he ever wrote and insists that, ...

For Brazil Non-Custodial Sentences Make Big Sense

It has become customary in Brazil for most people who commit small crimes to ...

Fields Medal Winner Meets with Brazil President and Asks for More Investment in Science

Mathematician Artur Avila, recipient of the Fields Medal, regarded as the Nobel prize of ...

LETTERS

Brazil is the 6th largest film market in the world. Still, to be a ...

Sahara Inspires Brazil’s Summer Collection

After serving as the scenery for books and films like The English Patient and ...

UFBA: Brazil’s Less than Gringo-Friendly University

Thinking of doing a semester as a student at Federal University of Bahia (UFBA) ...

Brazilian Foreign Investments Zoom to US$ 23 Billion in 2006

Brazilian foreign investments amounted to US$ 15.022 billion in October, compared with only US$ ...

After Amazon Gang Arrest, Brazil Expects Reduction in Deforestation

Brazil’s Minister of Environment, Marina Silva, said she expects a reduction in the deforestation ...