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Your email address will not be published.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

Brazilian Consumers Confidence in the Economy Is Up by 4%

Brazil's Consumer Confidence Index (ICC) rose 4.1% in June, increasing from 102.2 points, in ...

Brazil and Neighbors Discuss Investments, Free Trade and Globalization

The main theme of the 10th Latin American Conference of Free Zones is mechanisms ...

Brazil’s Windy City Gets LatAm’s Largest Aeolian Power Plant

The municipality of Osório, in southern Brazil, will possess the largest aeolian (wind power) ...

Land Conflicts: 772 Murders and No One in Jail in Parí¡, Brazil

In February, a Catholic missionary born in the United States, Dorothy Stang, who was ...

Brazil: Is Lula Abandoning Sí£o Paulo’s Mayor?

The main reason for people not voting for José Serra (PSDB) was his performance ...

Brazilian Newspaper Target of Molotov Cocktails. Owner Blames Mayor

The headquarters of the newspaper Leia o Jornal, located in the southeastern city of ...

Brazil Gets Tough on Visas for Foreigners

Brazil’s Immigration Council has announced a series of changes in its norms. There will ...

Brazilian Companies Stop Exporting Due to Weak Dollar

The 16.5% increase in Brazilian export revenues in the first four months of this ...

Brazil’s Interest Rates Scare Investors

Latin American equities tumbled, paced by a fall in Brazil’s market, as investors reacted ...