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

Tags:

You May Also Like

Brazil Still Needs to Invest a Lot to Get a Real Electronic Government

Marta Maurás, secretary of the United Nations Economic Commission on Latin America and the ...

Vital Attraction

Drawn to movies since childhood it seemed inevitable that Mineiro Elton Eloin would end ...

Brazil Supreme Rules for Extradition of Italian Ex-Guerrilla. He Should Stay Anyway

By 5 votes to 4 the Brazilian Supreme Court (STF) ruled that former Italian ...

International Experts in Brazil Debate Autism and Alzheimer’s

Brazilian and foreign specialists are gathered at the Convention Center of the Federal University ...

Despite Loss in Venezuela, Brazil’s Petrobras Has Record Profit

Brazilian state-controlled oil company Petrobras ended 2006 with a net profit of 25.9 billion ...

With Brazil Leading Way, South America Spends Record US$ 50 Bi with Military

Thanks mostly to Brazil and Paraguay, military expenditure in the twelve countries that comprise ...

Brazil Expecting 6 Million Tourists, 2.5 Million from Europe

Brazil’s Minister of Tourism, Walfrido dos Mares Guia, says he does not believe the ...

Brazil Wants to Restart Work on Nuclear Plant Paralyzed in 1988

The director of Planning, Management and Environment at Eletronuclear – the Brazilian company that ...

Brazil Government Expands Stake on Petrobras, World’s 4th Largest Company

The megacapitalization of Brazil’s state-controlled oil and gas multinational, Petrobrás, has resulted in an ...

Brazil Launches Project with Non-Tropical Exotic Fruits

Micro and small businesses from Rio Grande do Sul state, in the Brazilian South, ...