Contrary to Experts Brazil’s Finance Minister Forecasts a Minimum 4% GDP Growth

Guido Mantega, Brazil’s  Finance Minister is still maintaining his estimate of growth of between 4% and 4.5% for the Brazilian Gross Domestic Product (GDP) this year, despite the reductions forecasted by the market.

"The 3.5% forecasts are pessimistic," stated Mantega, in reference to the most recent analyses.

Financial institutions heard by the Central Bank have reduced their forecasts from 3.55% to 3.53%. "The research changes according to the wind," commented Mantega. According to the minister, the analysis is based on momentary happenings and does not reflect the global context.

The new estimates have been made based on the performance of industries in the month of July, when sales dropped 3.75%. To the minister, this cannot be analyzed alone, as lower sales were influenced by the World Cup, in which Brazil was early disqualified, various strikes and even safety problems in São Paulo, caused by prison gangs who terrorized the city.

"In July there was already an acceleration of the Brazilian industry. The auto industry has accelerated, the paper and cardboard industry has too. There is greater consumption of electric energy. We already have all indications that the industry is growing over 4%," he pointed out.

Also according to the minister, "the salary mass has grown. All salary increases in the first half of the year were greater than inflation. Brazilian citizens now have a greater buying power."

Tags:

  • Show Comments (1)

  • ch.c.

    A joke, the government estimates.
    Just look at their estimates for last year and how slow they were to re-adjust to the reality.

    This year their estimates are even rosier. Guess why ! smile….

    No doubt that by “coincidence” they will reduce their estimates by the end of October. Also guess why ! smile…..

    Lying, hiding and corruptions were the only consistencies with the actual government.

Your email address will not be published.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

Opposition? What Opposition?

Political leaders in Brazil have been playing to the gallery and a high price ...

World Comes to Brazil to Discuss Land Reform

The Brazilian Minister of Agrarian Development, Miguel Rossetto, has officially launched preparations for the ...

Kerry Snubs Brazil and Latin America

John Kerry had the right woman at his side when accepting the Democratic nomination ...

When You Are a Rio Street Kid You Can Never Shut Your Eyes

Jefferson can’t remember exactly how his mother died. Homeless on the streets of Rio ...

Ten New Foot and Mouth Outbreaks Confirmed in Brazil

Brazil confirmed the existence of ten new outbreaks of foot and mouth disease, FAM, ...

Brazil Leaves Key Interest Rate Alone at a Steep 13.75%

Brazil's Monetary Policy Committee (Copom) decided to keep, this Wednesday, October 29, the Selic, ...

Rare blue macaws can be seen at the San Francisco ranch

Voyeurs of the World Discover Brazil’s Pantanal

Old pond. / Frog jumps in. / Water-sound. The seventeenth century Japanese haiku poem ...

Marking Time

Yes, there are prosperous and even rich Brazilian blacks. And they are not just ...

Brazilian Government Opens Two Schools in Russia to Teach Soccer

The first of two Brazilian football schools in Russia will start operating as of ...