• Categories
  • Archives

Brazil Fears no US Interest Rate Hike, Says New Finance Minister

Brazil’s Minister of Finance, Guido Mantega, traced a favorable picture of the Brazilian economy, affirming that successive decisions by the Federal Reserve Board to raise interest rates in the United States every time the group meets has no effect on Brazil.

"We have a robust trade surplus and, thus, low vulnerability; the country risk premium is declining, despite the fact that a new minister of Finance has just assumed command; and long-term interest rates, which might indicate some change in the international market, continue to fall," Mantega argued.

The minister spoke after the ceremony to instate the new president of the National Economic and Social Development Bank (BNDES), Demian Fiocca.

According to the Minister of Development, Industry, and Foreign Trade, Luiz Fernando Furlan, "Brazil is serene since it is a solid country that offers exceptional conditions to entrepreneurs, both Brazilian and foreign, who want to come and contribute to the growth and creation of companies and, in so doing, reap their results."

The minister affirmed that the target for this year’s primary surplus – what the government saves to pay interest on the debt – will be met. He even declared himself "cosigner" of this goal.

The growth of the industrial Gross Domestic Product (GDP) in the first two months of the year, in Mantega’s view, indicates that "the Brazilian economy is vigorous, with robust growth, based on the combination of the domestic market and the foreign market, which remains good for Brazilian products."

According to the minister of Finance, industry is growing, inflation and interest rates are declining, and credit has expanded for whoever intends to invest.

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Your email address will not be published.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

The Man with a Fish Between the Legs

Moment of matchless power is that in which a man will do anything, really ...

Couromoda: Brazil’s Showcase for Shoes and Leather Goods

The fall/winter shoes collection of Brazil will be shown to shop owners in the ...

LETTERS

Like the United States and the world’s richer nations Brazil—with much cunning, lots of ...

Beatings, Censorship, Harassment: All in a Day’s Work for Brazilian Press

Reporters Without Borders voiced concern today, February 7, about an increase in legal proceedings ...

Brazil Appeals to WTO Against US Farm Subsidies

Brazil has decided to place an inquiry at the Dispute Settlement Body at the ...

US Says Hillary Clinton Was Misunderstood on Iran. Brazil Is Free to Choose Friends

Brazil's Special Adviser for International Affairs of the Presidency, Marco Aurélio Garcia, reiterated Brazil's ...

Gathered in Brazil, World Is Still Far from Accord on Genetic Resources

The first step has been taken, in Brazil, towards a future international system to ...

Santa Catarina, Brazil, Has Become an Industrial Powerhouse

The southern Brazilian state of Santa Catarina is a privileged state. Apart from having ...

Globo soap opera

The Brazilian Mating Game: You Can’t Win It!.

A few hours after saying goodbye to my son before he boarded a bus ...

Brazil’s Referendum Fever: Congress Gets More than 300 Proposals

The Brazilian referendum on banning firearms and ammunition sales revived the debate on how ...