Brasília – At the opening of a seminar on the future of Brazilian economy at the National Congress, Finance minister Guido Mantega said that the country is to return to a desirable economic cycle, the average annual investment rate must rise from its current 6.1% to 7% per annum. As per statements made by the minister (29th), the infrastructure sector plays a crucial role within this strategy.
Government figures show that Brazilian foreign trade has risen from US$ 120 billion, ten years ago, to nearly US$ 500 billion at this time. “This means we are importing and exporting much more, and this places a demand on ports, airports and roads. Therefore, we need to increase our available infrastructure, otherwise we will see a bottleneck,” he explained.
According to him, priority sectors with regards to investment include civil construction, electric power, and oil and gas. Mantega once again dismissed specialists’ claims that the government prioritizes consumption over investment. “This is a mistaken statement,” he assured. “Over the last 11 years, [investment] has grown at 6.1% [on average per annum]. And that [average rate] also comprises the crisis spell,” he explained.
*Translated by Gabriel Pomerancblum
