The minister of Development, Industry and Foreign Trade, Miguel Jorge, said that the elevation of the benchmark interest rate (Selic) to 10.25% a year should not affect the trade balance.
Author: Agência Brasil
Brazil is highlighted as an oil producer in the US Energy Information Administration report. The country leads in growth outside the OPEC. The expansion volume is close to that of Saudi Arabia’s.
There should be growth of 8.8% over 2009, according to the Brazilian Statistics Institute. The soy crop should increase by 7.2%. Planted area in Brazil, however, has decreased 0.9% over last year.
Foreign sales of vehicles totalled US$ 1.1 billion in May, representing growth of 27.2% over April. It was the industry’s best result since October 2008, when the turnover was US$ 1.3 billion.
The growth is in comparison with the same period in 2009 and represents the largest expansion since the figure started being recorded. Figures were disclosed on Tuesday by the IBGE.
The investment was made since 2004 and concerned exploration and production. The independent entrepreneurs operate in mature continental basins.
The value is 7.4% greater than that made available for farmers in the previous crop. The plan should be announced today by Brazilian president Lula at the Embrapa, in Brasília.
Up until the 6th this month, Brazilian exports totalled US$ 3.2 billion, and US$ 75.29 billion year-to-date. Imports totalled US$ 2 billion in June so far.
On this Friday, the company announced the discovery of more petroleum in the pre-salt layer of the Campos Basin, in Rio de Janeiro. The well should generate 380,000 barrels of oil.
The Brazilian inflow and outflow of dollars, from the 1st to the 28th of last month, resulted in a surplus of US$ 2.7 billion, according to the Central Bank.
The Brazilian Ministry of Development raised its foreign sales forecast up to US$ 180 billion this year, as against an initial estimate of US$ 168 billion.
In Brazil, costs have tripled in five years, according to a study by the Ipea and the Ufrj. The main cause was shortage of equipment and services, and drilling at increasingly complex areas.
Brazilian trade balance surplus totalled US$ 3.4 billion in the month, as a result of exports of US$ 17.7 billion and imports of US$ 14.3 billion.
This statement was made by the Brazilian minister of Mines and Energy, Márcio Zimmermann. Three Brazilian regions are already being studied for establishment of nuclear plants.
