Brasília – The country should continue facing the appreciation of the real, which has resulted in less competitiveness among Brazilian manufactured products, mainly in competition with China. The evaluation is by the minister of Development, Industry and Foreign Trade, Fernando Pimentel, who considers the exchange situation a consequence of the depreciation of the dollar and an effect of the attraction of foreign investment to Brazil.
"Stung countries have strong currencies," said the minister on radio program Bom Dia, Ministro, produced by the Communications Secretariat at the Presidency of the Republic and by EBC Serviços. According to Pimentel, the appreciation of the real is "a point we cannot overcome". "Brazil is becoming a developed nation and is attractive to international capital," he said.
The minister recognized, however, that the exchange situation is "very distressing" to the national industry and that depreciation of the dollar "does not need to be at the same level as it is now". According to him, the government may not change the situation "with magic" and the Finance ministry will take measures "as time calls for them".
*Translated by Mark Ament
