World Bank Chastises Brazil for Growing Slow and Neglecting Infrastructure

The chief economist at the World Bank, François Bourguinon, says that "Brazil needs macroeconomic policies in order to free funds for government spending."

He went on to say that Brazil is growing at a very slow pace, less than the average for emerging economies, that this has been going on for a long time, and that the country has not been investing in infrastructure.

Yesterday Bourguinon participated in a ceremony for the release of the bank’s 2006 Report on World Development. Brazil is cited in the document a number of times as it is one of ten countries with the highest levels of social inequalities.

Bourguinon praised the government’s Bolsa Famí­lia program which presently reaches some 11 million poor families, providing them with up to US$ 44 a month. He said the program was reducing inequalities in the country and recommended expanding it further.

The World Bank economist also commented on the Doha Round trade talks, saying the institution was following the negotiations closely and was, in Bourguinon’s opinion, on the side of the emerging nations if a trade-off could be achieved between opening markets in poor nations for manufactured goods and eliminating farm subsidies in rich nations.

"We hope the talks have positive results for countries such as Brazil," he declared.

Agência Brasil

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