Nothing Changes Says Brazil’s New Finance Minister

In his first press conference as Brazil’s new minister of finance, the president of the Brazilian Development Bank (Banco Nacional de Desenvolvimento Econômico e Social) (BNDES), Guido Mantega, announced that he will maintain the present economic policies of the Luiz Inácio Lula da Silva government as they have been conducted by former minister Antonio Palocci.

"Economic policy will not change, and the reason is because it is not minister Palocci’s policy, or minister Rousseff’s policy (she is the Presidential Chief of Staff), or any minister’s. It is the economic policy of president Lula. The government’s economic policies are undersigned by the president, no one else," declared the new minister.

Mantega went on to say that present economic policies have been the most successful in the last 15 or 20 years, opening the door to a new cycle of development.

"This is the first time in a long time that Brazil has been able to put together so many favorable conditions for growth. And that fact is due to the economic policies that have been in effect over the last three years," said Mantega.

Mantega is taking the place of Minister Antonio Palocci as the head of the Ministry of Finance. Palocci submitted a letter of resignation yesterday afternoon, March 27.

According to the leader of the government in the Senate, senator Aloizio Mercadante (Workers Party – São Paulo), President Lula accepted the resignation of Palocci and immediately appointed Mantega to substitute him.

ABr

Tags:

  • Show Comments (0)

Your email address will not be published. Required fields are marked *

comment *

  • name *

  • email *

  • website *

Ads

You May Also Like

LETTERS

If Lula is not elected, then chances of profound reform will be postponed yet ...

Brazilian Congress Leaves for Next Year Decision on Doubling Their Salaries

Brazilian congressmen have postponed the voting over their own salary increase for next year ...

A scene from Brazilian movie Cidade de Deus (City of God)

1,200 Vigilantes Poised to Invade Brazil’s City of God. It’s Not a Movie

Cidade de Deus (City of God), the Rio neighborhood made famous by the eponymous ...

Unemployment Falls in Brazil. Shrinking of Economically Active Population Helps.

The encouraging results of the National Employment Survey, announced by the Brazilian Institute of ...

Brazilian Agriculture Gets Over US$ 6 Billion from Government This Year

Brazil’s Ministry of Agriculture should have its highest budget since Brazilian president Luiz Inácio ...

US-based Executive AirShare Committed to Buy Over 50 Embraer Jets from Brazil

Brazilian aircraft maker Embraer received an expansion order for the Phenom 300 jet from ...

Brazilian crowd in Salvador, Bahia

Brazil’s False Image of Racial Harmony Has Accomplice: the Black Population

In retrospect, I often ponder the following questions: Do people really not see the ...

Brazil Radio Station Set on Fire for 3rd Time. Mayor Main Suspect

Brazilian Nova Coari radio, in Amazonas state, in northern Brazil, was set on fire ...

Despite Foot and Mouth, Brazil’s Beef Exports Break Record

Brazilian cattle beef exports were record last year, both in terms of revenues and ...

Brazilian Award-Winning Hip-Hop Drama, Antí´nia, Comes to DVD

Antônia, a hip-hop theme drama telling the story of four young women chasing a ...