Brasília – Brazil already sold US$ 14.5 billion of its foreign currency reserves since the worsening of the international financial crisis, in September, up until March 02. The information was supplied today (05) by the president of the Central Bank (CB), Henrique Meirelles, during the International Seminar on Development, promoted by the Council for Social
Author: Agência Brasil
The funds should be spent up until 2013 on ethanol and biodiesel production.
The Brazilian company produces petrol with a mixture of 3% ethanol in the country. It is the first step to sell ethanol on the Asian market.
For 2009, the Central Bank estimates investment of US$ 30 billion. In January last year, Brazil had received US$ 4.823 billion in FDI and in the whole of 2008, US$ 45.06 billion.
The government of Brazil is going to invest the funds in the National Centre of Advanced Electronic Technology, established to produce semiconductors and integrated circuits.
The concern regarding wheat supply in Brazil has generated talks about the Common Export Tariff on the product. Farmers are asking the government not to remove it.
The Export Financing Program has been expanded to include Brazilian companies with annual revenues of up to US$ 257 million. The previous limit benefited those with revenues up to US$ 128 million.
The forecast is for the period between 2009 and 2013. The target is to supply a demand of 135 million cubic meters of gas per day. Part of the funds should be turned to electric energy generation.
According to the sector association, Brazilian carmakers should produce 10,800 vehicles a day in February, against 8,900 in January. Last month there was growth in comparison to December.
In the first week of February, the trade balance result generated a surplus of US$ 471 million. Year to date, the result is still negative, due to a deficit of US$ 518 million in January.
Production reached 186,000 units in Brazil in the month, against 96,600 in December 2008.
This statement was made by the Foreign Relations secretary at the Ministry of Agriculture, Célio Porto, who credits the good result to recovery of agricultural prices and volumes traded.
This is the first negative result in the trade balance since March 2001.
Celso Amorim called, in Davos, for all nations to lobby so that the congressmen of the United States do not approve new protectionist measures.
