Brazil’s Lula Recognizes Economy Has Been Weak

Brazilian President Luiz Inácio Lula da Silva said Monday, January 30, that 2006 will be a positive year. "It will be a year of economic growth, increased productivity, export growth, and greater income for workers," he declared.

In his weekly radio broadcast, "Breakfast with the President," Lula affirmed that the minimum wage increase decided last week will inject US$ 6.77 billion (15 billion reais) into the economy.

From his perspective, the expansion of the economy was the outcome of a process that required a powerful adjustment in 2003.

Although the initial results were "harvested" in 2004, the President acknowledged that the third quarter of 2005 was "weak."

"The GDP [Gross Domestic Product] grew less than we were hoping, but, beginning in October, we were able to discern signs in various sectors that the economy would pick up," he remarked.

Lula said that he is counting on the effort that is being made to propel Brazil on a new cycle of sustainable economic growth, not merely confined to company wealth and productivity indices.

"Let there be growth in company wealth and the productivity indices, but let there also be growth in workers’ salaries and the quality of life of the Brazilian people," he added.

Agência Brasil

Tags:

Ads

You May Also Like

Lula Vows that Accelerate, Grow and Include Will Shape Second Term

Brazilian President Luiz Inácio Lula da Silva was sworn in yesterday, January 1st, for ...

UN to Buy Brazilian Food to Distribute Worldwide

Brazil’s National Supply Company (Conab, Companhia Nacional de Abastecimento) has received accreditation from the ...

Brazil’s Embraer Delivers 57 Jets in Third Quarter

Brazilian aircraft-maker Embraer has expanded its deliveries in the third quarter of this year ...

Brazil to Pressure Paraguay into Accepting Venezuela in Mercosur

Believing that Venezuela is an extremely important factor for the social and economic development ...

Brazil and China Want to Drop Dollar in Oil Trading

The International Energy Agency (IEA) is forecasting that oil production in 2010 should total ...

Close to 400 Firms from 33 Countries in Brazil for Medical Fair

Brazilian President, Luiz Inácio Lula da Silva, is traveling to São Paulo, in southeastern ...

Showing Brazil to Travel Agents Around the World

The 32nd Brazilian Congress of Travel Agents will present the main national tourist destinations ...

On Its Deathbed Brazil’s Varig Sees Its Routes Being Partitioned

A Brazilian bankruptcy judge approved on Monday an offer by an employee-led group to ...

Brazil Trying to Prop Up the Falling Dollar

Brazil's currency, the real, appreciation against the dollar  is a "cause for concern," but ...

Lula Wants the G20 to Put an End to the Currency War

The president of Brazil, Luiz Inácio Lula da Silva, said that the G-20 group ...