São Paulo – The Brazilian minister of Finance Guido Mantega has said this Monday (30th) that the country’s per capita Gross Domestic Product (GDP) should be up 40% from 2013 to 2022, and should be R$ 30,000 (13,284 at current exchange rates) by 2022. According to the minister, in order for the forecast to prove true, the GDP and investment must increase by an average of 4% and 7% a year, respectively.
He said the average per capita GDP growth rate from 2003 to 2012 was 28%; the per capita GDP in the country was R$ 16,600 (US$ 7,350) by 2003 and increased to R$ 21,300 (US$ 9,431) by 2012. During this period, the GDP was up 3.6% and investment was up 5.7%.
Mantega spoke in São Paulo at the opening of the 10th Economy forum of the Getulio Vargas Foundation (FGV), held in partnership with the Federation of Industries of the State of São Paulo (Fiesp), the Institute for Studies in Industrial Development (Iedi) and the Inter-Union Department of Statistics and Socio-Economic Studies (Dieese).
The theme of the meeting was Strategies for Doubling Brazil’s Per Capita Income in 15 Years. “Achieving a twofold increase in 15 years requires much strategy.” It is an ambitious target, one that few countries have accomplished in this timeframe,” the minister said.
*Translated by Gabriel Pomerancblum
