01 March 2013

BRASIL : Dilma Shops For Investors; 2012 GDP Was Less Than 1%.

    New disturbing revised 2012 GDP figures have landed on President Dilma Rousseff's desk.
     Now demoted to the globe's 7th largest economy...Brasil grew by less than 1%...only .009 to be exact.
     It is Brasilia's slowest pace since 2009.
     Rousseff's administration had predicted an ambitious 4.5%.
     But...inflation is nearing the target 6% level.
     So...it's understandable why FinMin Guido Mantegna went courting foreign investors in NYC...and why Dilma has personally met with 11 prominent businessmen.
     The sudden charm offensive is underway because Brasil needs $235 billion to update its woeful infrastructure...especially ports, airports, roads and railways....and lower its notorious high cost of doing business.
      Foreign investment has fallen for 6 straight quarters...following new taxes and fees...and reduced interest rates.
      An optimistic Mantegna projects 4% growth in 2013.

ALSO: TO READ: Dilma courts investors.