Follow us on:   

Brazil government beats fiscal target
January 4, 2014, 5:40 am

Mantega on Friday said favorable conditions of a global recovery would boost Brazil’s prospects in 2014 [AP]

Mantega on Friday said favorable conditions of a global recovery would boost Brazil’s prospects in 2014 [AP]

Brazilian Finance Minister Guido Mantega said on Friday that the central government beat its primary surplus target in 2013.

Mantega said the government is keeping spending under control even as it tried to quell fears over the economy.

“We will continue with the fiscal effort to control expenses,” Mantega said on Friday. “We will have a good fiscal result in 2014.”

“It would not be good to keep analyst expectations hanging until the end of January. This will calm nerves,” the Finance Minister added.

The primary budget surplus, Mantega said, would be above the goal of 73 billion Brazilian Reais for 2013 ($30.5 billion), equivalent to about 1.5% of gross domestic product.

“We met our fiscal result and we did a little bit more than 1.5% of GDP,” Mr. Mantega told reporters at a news conference in Brasilia.

HSBC’s Purchasing Managers’ Index survey released earlier this week has shown that manufacturing activity in Brazil has moved from contraction to expansion.

Mantega on Friday said favorable conditions of a global recovery would boost Brazil’s prospects in 2014.

“We are on a positive trajectory for the Brazilian economy,” he said.


Source: Agencies

One Response to Brazil government beats fiscal target

  1. Eraldo Marcelo Kopp Reply

    January 5, 2014 at 1:06 pm

    Speaking of scoundrels, this Mantega is it!
    Brazil is bankrupt! There is no nice nice reports when it comes from this government! The numbers were manipulated greatly… The minimum wage rose a bit and it stands at RS$724.XX a month but the inflation is increasing a lot more than what the minimum wage can do for the people!
    Petrobras is a huge “phantom” company sucking money from behind the scenes via government’s back gate for years… Petrobras has junked oil deposits from many parts of the world and doing trade with some of them for years as back as 1912… Printing money festival continues daily in this country and for some crazy crazy and crazy reason the existing president has high level of acceptance… Petrobras for many years has spent for every US$100.00 only earned US$23.00 back making it a non- profitable company and always being injected money from behind to make up for the loss…
    The situation around here is sex, drugs, blowing up atm’s, carnival and junky soccer matches while brain washing the people for the elections in October… The world cup is a huge white elephant where the nation won’t ever recover the cost for it…
    The presidency candidates are non-fit for the job! Many of them already from government circles and scoundrels beyond measure! There was ,awhile back, an ex-Brazilian Sarney visiting a thief Genuino in jail because the person was his friend! Imagine what kind of friendship! So a blunt government expending itself beyond its means and billions of reals being printed indiscriminately while the people are mostly ignorant of its acts… October is the election month and lets hope an industrious person can do similarly what previous Brazilian president JK has done so long ago!

Leave a Reply

Your email address will not be published. Required fields are marked *

Anti-Spam * Time limit is exhausted. Please reload the CAPTCHA.