Brazil’s GDP Grows 4.2% in First Half

Brazil’s first semester GDP growth closed out up 4.2%, compared to the first half in 2003. It was the biggest GDP growth since the first half of 2000, when it rose 4.7%.

From January to June of this year, the farm sector grew 5.7%, the industrial sector 4.7% and services 2.8%, according to the latest government statistical bureau, IBGE (Instituto Brasileiro de Geografia e Estatí­stica), quarterly report.

The IBGE also reports that for the 12-month period ending in June 2004, GDP growth was 1.7%, compared to the 12-month period ending in June 2003.

Minister of Planning, Guido Mantega, says the 5.7% GDP growth in the second quarter is a sign of economic consistency, with growth occurring in all segments.

Mantega pointed out that the services sector is growing along with the construction sector. “We are going through a very important moment,” he said. The 5.7% GDP growth rate is the strongest since 1996.

Mantega’s remarks were made after he delivered the government’s proposed budget for 2005 to the president of the Congress, senator José Sarney. He added that the budget was on track with the economic growth.

The 2005 budget sets the primary surplus at 4.25% of GDP, and forecasts GDP growth of 4%.

Under Brazilian law, the executive must present its budget to Congress by August 31. Congress must vote on the budget by December 31.

Agência Brasil


  • 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Your email address will not be published.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.


You May Also Like

IMF Forecasts 5.5% GDP Growth for Brazil with Risks of Overheating

Latin America’s largest economy and leading Mercosur partner, Brazil is poised to grow 5.5% ...

Brazil Gol’s New Maintenance Center Will Save US$ 2 Million a Year

Brazilian Airline Gol has just opened this Friday, September 15, its Aircraft Maintenance Center ...

Jobless Rate Reaches 10.1% in Brazil

Brazil’s unemployment rate was above 10% in February, the highest level in the last ...

How Low Will Brazil’s Lula Go to Please Washington?

Since the February 29 ouster of democratically-elected Haitian President Jean-Bertrand Aristide, the UN has ...

Haiti Consul in Brazil Blames Quake on Voodoo and Curse Africans Have

Unaware he was being recorded, the consul of Haiti in Brazil, George Samuel Antoine, ...

Brazil’s College Quota: 10% for Poor and Blacks

Brazil’s government program, University for All, has received support from a total of 32 privately-owned ...

Dilma and Marina Gather Plans and Papers to Become Brazil’s President

Dilma Rousseff, Lula’s handpicked presidential candidate to October 3 Brazilian elections promised, if elected, ...

Brazil Blames Crisis for Slowdown in Chicken Exports

Brazilian exports of chicken should end the year at between 3.6 million and 3.7 ...

1968 for ever

As in other parts of the world, 1968 was an eventful year in Brazil. ...

Imports Up, Exports Down and a Shrinking Surplus in Brazil

In the fourth week of July imports rose over 15% and exports dropped 17.5%, ...