• Categories
  • Archives

Brazil Promises Minimum Primary Surplus of 4.25%

Brazil’s 2006 budget primary surplus will have a "floor of 4.25% of GDP" forecasted Brazilian Finance Minister Guido Mantega in Washington.

"4.25% is the floor", stressed Mr. Mantega during a meeting with journalists in the framework of the IMF/World Bank spring meetings.

"It can’t be less, but a bit more won’t hurt anybody", added Mr. Mantega who anticipated that the administration of President Lula da Silva would have then "completed four consecutive years of primary surpluses above 4% of GDP".

In a previous interview in Brazil Mr. Mantega had admitted that the 2006 budget primary surplus would be in the range of 4.25%, but in Washington he insisted that was the "floor".

President Lula da Silva when taking office in 2002 committed his four year administration, which ends next December to an annual 4% budget surplus. However the target was comfortably achieved with 4.84% in 2005 and 4.59% in 2004.

However economic growth has not been that encouraging with 2.5% last year and an even lesser average in the first three years.

Mercopress – www.mercopress.com


  • Show Comments (2)

  • Guest

    leah loves nigel

  • Guest

    leah loves nigel

Your email address will not be published.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.


You May Also Like

Brazil Reports to UN on Its 430,000 Indians

The president of Brazil’s Funai (Fundação Nacional do Àndio – National Indian Foundation), Mércio ...

Mind Straitjacket

Brazilian scholars ape foreign trends in order to be seen as more up-to-date. This ...

The Brazilian Experience

Since 1990, Brazil has been made into a laboratory for disastrous economic recipes that ...

Brazil Pushes Panic Button and Slaps Restrictions on 60% of Imports

The Brazilian government announced it has imposed restrictions on 60% of imports "to soften" ...

Brazil Supreme Justice Frees Man Accused of Killing Union Leader

A Brazilian Supreme Court justice has suspended the trial by jury of a farmer/landowner, ...

A Brazilian City Recipe for Recycling Waste and Eliminating Landfills

Maringá, a city in the southern Brazilian state of Paraná, generates 320 tons of ...

Bad Job Market in the US Brings Bulls Out in Brazil

Latin American equities surged amid positive local news and gains on Wall Street, as ...

Ethanol, Sugar, Soy and Coffee Help Boost Brazil Exports to Arab Countries

Products in the sugar and alcohol complex, meats, soy, coffee and tobacco. These were ...