São Paulo – Brazil’s Finance minister, Guido Mantega, anticipated on Monday (2) the result of the growth of Brazil’s Gross Domestic Product (GDP) for the third quarter of the year, at 2.5%, in comparison with the same quarter in 2012. The index will be disclosed officially on Tuesday (3) by the Brazilian Institute for Geography and Statistics (IBGE).
The minister, who participated in the Brazil Seminar: A Vision for Ten Years, which took place on Monday morning, in the city of São Paulo, was asked about the drop in Petrobras shares in the São Paulo Stock Exchange (Bovespa), recorded on Monday, due to the increase in fuel prices, announced on Friday (30).
“I have not seen market figures today, but company shares oscillate… I have no comment,” he said. At 2:48 pm, Petrobras ordinary shares were down 8.95%, while preferred shares fell 8.26%.
Mantega also said that the Contribution on Intervention in the Economic Domain (CIDE) may return to being levied on fuel. “[That may take place] when inflation is contained at a more comfortable level, below the current ones,” he said.
Regarding the increase in fuel prices, he also said that the market should adjust to the prices and that the impact on petrol prices should be around 2.5%.
*With information from the ANBA newsroom. Translated by Mark Ament
