Bras\u00edlia \u2013 The minister of the General Secretariat of the Presidency, Gilberto Carvalho, stated that the pace of investment will be somewhat slower this year, but that should not prevent large construction works, such as the building of hydroelectric plants, from taking place.<\/p>\n
\u201cThis will be a year in which investment will be a bit lower, but that does not mean it will be halted. Large works will continue to take place. The building of Belo Monte [hydroelectric plant] should start in July,\u201d he said on radio show Bom Dia, Ministro<\/i> (Good Morning, Minister), produced by the Social Communication Secretariat of the Presidency, in partnership with EBC Servi\u00e7os.<\/p>\n
According to him, the first year of president Dilma Rousseff\u2019s administration will be a year of \u201cbraking to clean the house,\u201d because of increased government spending in 2009 and of losses incurred in revenues to curb the effects of the world financial crisis. Carvalho highlighted that the then-president Luiz In\u00e1cio Lula da Silva ordered large volumes of investment and financing from state-owned banks to companies, and lowered taxes to stimulate consumption, all of which were appropriate measures, according to Carvalho.<\/p>\n
The [federal government\u2019s] Growth Acceleration Programme (PAC, in the Portuguese acronym, an income transfer program) and Minha Casa, Minha Vida <\/i>(My House, My Life, a low income housing programme) were the most spared from the cut, according to Carvalho, because they are regarded as \u201ccrucial for maintaining the development\u201d of Brazil.<\/p>\n
*Translated by Gabriel Pomerancblum<\/b><\/p>\n","protected":false},"excerpt":{"rendered":"
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