Bras\u00edlia \u2013 After stagnation in 2009, the Gross Domestic Product (GDP) of Brazil should grow 5.2% in 2010. The figure was presented by finance minister Guido Mantega at a meeting at Granja do Torto, the second presidential home, last week.<\/p>\n
The Finance Ministry\u2019s estimate is lower than that of the Central Bank. In its inflation report, disclosed in late December, the institution forecasted growth of 5.8% in the economy this year.<\/p>\n
The economic growth, according to the Finance Ministry, should be sustained mainly by domestic demand, with forecasted growth of 7.3%. This expansion, however, should be counterbalanced by lower foreign trade.<\/p>\n
According to the minister, imports, fund transfers abroad and expenses of Brazilians in other countries should have a 2.1% negative impact in growth of the GDP, resulting in a rate of 5.2%.<\/p>\n
Last week, the Central Bank disclosed that the balance of Brazilian foreign accounts in December was US$ 5.94 billion negative, the worst result for the month since 1947. According to Central Bank forecasts, Brazil should have a foreign currency deficit of 2.095% of GDP in 2010.<\/p>\n
According to the minister, the investment should rise 16.1% in the period, after having dropped around 10% in 2009. Family consumption should grow 6.1% and industrial production, which dropped 5.3% last year, should grow 7.1%.<\/p>\n
To the Finance Ministry, the elevation of investment next year shows that the economic growth is sustainable in the medium and long-term. "The growth is sustainable as it is based on sure footing and maintenance of inflation under control, fiscal responsibility and low foreign vulnerability,\u201d according to the ministry\u2019s document.<\/p>\n
The 2009 GDP result will only be known in March. The Finance Ministry\u2019s forecast is for growth of 0.1%. The Central Bank, in turn, has forecasted 0.2% expansion.<\/p>\n
*Translated by Mark Ament<\/b><\/p>\n","protected":false},"excerpt":{"rendered":"
To Guido Mantega, the Finance minister, the performance will be boosted by domestic demand. The Central Bank estimates advances of 5.8%.<\/p>\n","protected":false},"author":2315,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[91],"tags":[],"class_list":{"0":"post-33585","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-economy"},"wps_subtitle":"To Guido Mantega, the Finance minister, the performance will be boosted by domestic demand. The Central Bank estimates advances of 5.8%.","_links":{"self":[{"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/posts\/33585","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/users\/2315"}],"replies":[{"embeddable":true,"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/comments?post=33585"}],"version-history":[{"count":0,"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/posts\/33585\/revisions"}],"wp:attachment":[{"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/media?parent=33585"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/categories?post=33585"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/tags?post=33585"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}