Murilo Ferreira, who is replacing Roger Agnelli at the helm of the mining company, stated that it will sustain a friendly relationship with the government and shareholders will continue to profit.
Author: Agência Brasil
A report from the Ministry of Planning has reduced the Brazilian economic growth projection for this year from 5% to 4.5%. The inflation estimate, however, has increased.
Increase in the benchmark interest rate and measures to curb credit have reduced economic growth across several regions of the country.
The net inflow of foreign currency into Brazil concerns the period from the 1st to the 13th of May. Year-to-date, the foreign exchange surplus totals US$ 46 billion.
According to the World Bank, Brazil and five other emerging countries should be responsible for redefining the global economic framework in the near future.
Fernando Pimentel, head of the Ministry of Development, Industry and Foreign Trade, is in favour of a discussion on the adoption of another exchange system for international transactions.
The figure was the result of US$ 5.8 billion in exports and US$ 4.3 billion in imports.
The minister of the General Secretariat of the Presidency, Gilberto Carvalho, believes that the pace of investment will be somewhat slower this year, but hydroelectric plants will be built.
According to the National Treasury secretary, Arno Agustin, the government should issue Brazilian foreign debt securities denominated in Brazilian currency on the international market this year.
Brazilian grain production this year should total 158.7 million tonnes, a 6% increase over last year, according to the Brazilian Institute of Geography and Statistics.
The Brazilian trade balance posted a surplus of US$ 969 million in the first week of May, according to the Ministry of Development.
The Brazilian state-run company intends to raise its share in the sector from 5% to 15%, de according to the minister of Mines and Energy, Edison Lobão.
According to the Central Bank chairman, Alexandre Tombini, intense capital flows into Brazil are fuelling the expansion of credit and hampering the control of inflation.
Surplus in the inflow vs. outflow of foreign currency in the country was driven by the flow of trade. Year-to-date, the accumulated surplus stands at US$ 37 billion.
