Brazil Plans Infrastructure Works to Generate 2 Million New Jobs

A road in Brazil Brazil will invest heavily in infrastructure this year, which will help create jobs and boost the economy said Brazilian President Luiz Inácio Lula da Silva during his weekly radio broadcast.

However some analysts believe original plans will have to be halved following a vote in the Senate that will cut tax revenues by the equivalent of US$ 21 billion.

But Lula continues insisting that he is optimistic and guarantees that in the coming weeks several of those major projects will be taking off.

"Many investments are about to begin,…in February, March, April almost all projects will begin generating jobs and giving more strength to our economy," he emphasized.

The Lula administration recently announced plans for major infrastructure investments and red tape clearance that should speed the program. Government economists are talking of infrastructure investments enough to generate as much as two million new jobs.

Capital investment is forecasted to expand 14% in 2008, the largest percentage in a decade according to Brazil's National Confederation of Industry.

Businessmen and investors have repeatedly complained that Brazilian roads full of craters, port facilities overloaded and insufficient railways are eroding Brazil's international competition capacities.

"We'll have a 2008 far better than 2007, with more jobs and more growth,", promised president Lula in his broadcast.

Independent economists believe the Brazilian economy expanded 5.1% in 2007 but will slow down to 4.5% this year.

Mercopress

Tags:

You May Also Like

Brazil’s Rich Foreign Market for Exotic Animal Products

Brazilian exports of exotic products of animal origin like chicken, turkey and ox testicles ...

All Over Brazil Students March for University Reform

Brazil’s National Students’ Union (UNE) promoted demonstrations throughout the country today, the National Day ...

In Popularity List Brazil’s Lula Comes at the Top. Bush and Chavez at the Bottom

Brazil and Chile's presidents, Luiz Inácio Lula da Silva and Michelle Bachelet, are the ...

Brazil 2010 Amazon Deforestation Data Shows Lowest Rate Ever Recorded

The Brazilian government is announcing that deforestation rates in the Brazilian Amazon declined 14% ...

Fallen Brazil’s Chief of Staff Says his Hands Are Clean

José Dirceu, in a speech announcing his resignation as Presidential Chief of Staff, declared ...

Brazil’s Lula Urges World Leaders to Be Daring

Brazilian President Luiz Inácio Lula da Silva said today that the world has the ...

World Bank Loans Brazil US$ 7 Bi for Infrastructure and the Poor

Less large loans for the federal government and more small and medium loans for ...

Brazil Studying Creation of South American Development Bank

During their summit, Thursday, January 19, in Brazilian capital BrasÀ­lia, presidents Luiz Inácio Lula ...

In Brazil 95% Oppose Black Bloc’s Action

The Brazilian middle and high classes seem to be the most supportive of the ...

9 Years of Privatization Bring US$ 5 Bi in Investments to Brazil’s Railways

Brazilian railways transported 178.3 billion ton-kilometers in the third quarter of the year, according ...