Brazilian Finance Minister Guido Mantega said that Brazil should consolidate itself as the world’s sixth largest economy, ahead of the UK, and may climb further in future.
Browsing: Economy
A study disclosed by English newspapers shows that Brazil should exceed Great Britain late this year to become one of the largest economic powers.
The total was exceeded last week, when Brazilian shipments generated US$ 5.286 billion and imports, US$ 4.546 billion, resulting in a surplus of US$ 740 million.
Once the world’s largest open-air mine, it will be entirely mechanized and explored by the Canadian company Colossus in partnership with a local miners cooperative.
The Bank of Brazil supplied US$ 17 billion in export financing from January until December 15th. The institution is the leading financer of foreign sales in the country.
While discussing next year’s perspectives, Finance minister Guido Mantega said there will be more jobs for the population. The government will work to prevent contagion by the international crisis.
Central Bank’s projection indicates that the country’s Gross Domestic Product should increase by 4% to 5% next year. Morocco is feeling the effects of the international economic crisis.
Chemical products may be on a list of items whose tariffs will be raised, based on a decision made by the Mercosur. Fertilizers and petrochemicals, however, should not be affected.
Declining activity and uncertainty stemming from the world economy have caused Brazilian businessmen to revise their outlook for next year downwards.
From January to November, there were 8.26 million international arrivals in Brazil. The figure is 14% higher than in the same period of 2010.
Micro and small companies in São Paulo should end 2011 with a 3.5% increase in revenues compared with last year, according to a Brazilian Micro and Small Business Support Service (Sebrae) survey.
The bloc’s member countries may raise the import tariffs on 200 different items by up to 35% for products supplied by third-party countries. The Brazilian list should include chemicals.
The Brazilian Finance minister Guido Mantega stated that the government will use the necessary mechanisms to prevent the country’s currency, the real, from appreciating against the dollar again.
Current transactions in Brazil ran a US$ 6.8 billion deficit in November, resulting in a year-to-date deficit of US$ 45.8 billion, according to the Central Bank.
