The statement was made by Finance minister Guido Mantega. According to him, lower interest rates should be motivated by the controlled inflation, lower public spending and subsidies through the BNDES.
Author: Agência Brasil
The first prognosis for next year, disclosed on Wednesday (10) by the IBGE, shows an expected volume 2.8% lower than in the 2010 crop, expected to reach 148.8 million tonnes.
The country is going to invest in developing non-genetically altered grain. The program will be carried out by the Brazilian Agricultural Research Corporation and 11 farmers’ organizations.
Last month, 321,800 units were made, as against 304,900 the month before. According to the Association of Vehicle Manufacturers, 3.04 million vehicles have been made from January to October this year.
In the first week of the month, in which there were four working days, Brazilian exports totalled US$ 3.205 billion and imports, US$ 2.776 billion.
The commodity’s rising international costs should have a positive effect on the Brazilian trade balance, claims the Sugarcane, Water and Energy director at the Ministry of Agriculture, Cid Caldas.
According to the Brazilian Finance minister, the Federal Reserve’s decision of circulating US$ 600 billion will only depreciate the dollar and make the United States’ exports more competitive.
The result refers to the first three quarters and is part of the Industrial Indices research, disclosed on Wednesday by the National Confederation of Industries. In September, revenues grew 1.9%.
The Brazilian trade balance recorded a surplus of US$ 14.6 billion from January to October. There was a 35% decline over the same period of 2009 as a result of the increase in imports.
Estimates for expansion of the Gross Domestic Product of Brazil in 2010 have risen from 7.55% to 7.60%. For 2011, the forecast is for GDP growth of 4.5%, maintained for 47 weeks.
The reserve of Libra, in the Santos Basin, may contain up to 15 billion barrels, according to National Petroleum Agency data. Presently, the country has 14 billion barrels of recoverable oil.
Last year, the country recycled 198,800 tonnes of aluminium, out of 202,500 tonnes sold. It was the ninth consecutive time that Brazil had the world’s highest recycling rate.
The minister of Development, Industry and Foreign Trade of Brazil said that the trade balance surplus should be between US$ 15 billion and US$ 16 billion this year.
The company announced the discovery of great reserves in ultra-deep waters on the coast of the Northeast. Tests point at light oil.
