Mantega releases crucial data to calm market anxiety about Brazil's accounts

Saturday, January 4th 2014 - 04:38 UTC

Full article 8 comments

Brazil's Finance Minister Guido Mantega insisted on Friday that the government is keeping spending under control as he sought to calm anxiety about the deterioration of the government's accounts. The minister said the primary budget surplus, (excess of revenue over expenditure before debt payments) would be above the goal of 73 billion Brazilian Reais for 2013 (30.5bn dollars), equivalent to about 1.5% of gross domestic product. Read full article

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yankeeboy
The worm has turned.
Jan 04th, 2014 - 02:33 pm - Link - Report abuse 0
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ChrisR
Mantega has his mouth open so we know he is still lying. It would not be necessary to publish “accounts” if this disgraceful apology for a finance minister did his job correctly and both he and Dilma did not try and fix Mr. Market into a straight jacket.

But “with one bound” Mr. Market will be free and then will see for ourselves who is telling the truth.
Jan 04th, 2014 - 04:04 pm - Link - Report abuse 0
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Jack Bauer
While Mantega tries to pull the wool over everyone's eyes, the country's foreign trade balance is the worst in 13 years, and nearly as bad as in 2012. In yesterday's paper, a report denounces , once again, a well known fact that the Federal Gov (controlled by the corruPT 'P.T.') habitually manipulates the numbers in order to try to make them look good...the latest scam : they included US$ 7.7 billion , referring to the sale of oil rigs/platforms to Petrobras, as “export” revenue....where were they “exported” to ?? a few kms offshore...
another : to mask the result for 2012, US$ 3.4 billion of oil 'n gasoline imports were not taken into account, otherwise the result would have been worse than it actually was....Now, when they can no 'hide' these expenses, they're obliged to make them appear in 2013 .....therefore, you can conclude that just about everything they tell you is a bunch of lies and does not reflect the real situation...
Jan 04th, 2014 - 05:12 pm - Link - Report abuse 0
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macsilvinho
The situation in Brazil is baaaaad and Mantega is releasing crucial data because he has nothing good or true to realease...
Jan 04th, 2014 - 06:06 pm - Link - Report abuse 0
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Jack Bauer
The Government spends billions on propaganda, to “inform” everyone just what a wonderful job they are doing.....IF they were REALLY doing some good for the people, it would be noticed without the need to publicize it...but in a country where the majority of the population is ignorant ( and probably proud of it, as Lula is), they lap it up and are content as long as they are kidded into believing that they are climbing the social ladder....most of the so-called “growth”, and the D and C classes belief that they're attaining middle-class status, is either based on easy-credit or government handouts....if either , or both, are terminated tomorrow, they'll all just sink back into poverty...what Brazil needs is a GOOD educational system, in which everyone has the same opportunity...and from then on, it's up to you make something out of it. Enough of the 'free-loaders' !
Jan 04th, 2014 - 07:25 pm - Link - Report abuse 0
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Brasileiro
The trade balance has a negative swelling of 40 billion dollars. This is the amount we import oil in 2013. In 2012 was 15 billion dollars.
We are improving a lot. We will import less than 20 billion dollars in 2014. Our water tanks are on a better level. Our thermoelectric are being phased out.
Jan 05th, 2014 - 02:52 pm - Link - Report abuse 0
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Jack Bauer
Brasileiro #6, with all due respect, the import of oil is STILL a necessity for Brazil because the past 10 years of gross incompetence of the government. Wasn't it the “bearded toad” that in 2009 (irresponsibly) bragged to the 4 winds that Brazil would SOON be one of the biggest oil producers/ exporters in the world ? what happened ? he was just preparing one of the biggest scams ever - the government stipulated (based on what, other than their desire to steal ?) that Petrobras in order to have the right to explore the “pre-sal”, “owed” them 5 billion barrels of oil, which at the 'then' current oil prices, came to about US$ 75 billion....so they then took US$ 45 billion of this “invented” debt and immediately bought back the control of the company...only problem is that this money didn't exist, and still doesn't , therefore it never capitalized the company, in other words, the “investment” was just a scam to gain political control of the company....and thanks to Gabriell, Petrobras' ex-president (Lula's crony), Congress accepted the whole farce....Petrobras revenues were even diverted by Dirceu - heard of him ?? - and probably funded the 'mensalão' and Lula's newly obtained fortune....about US$ 2 billion .....doesn't it bother you to know you've been fleeced by the biggest crook Brazil has ever known, and seems that he's getting away with it ??
Jan 06th, 2014 - 05:02 pm - Link - Report abuse 0
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yankeeboy
U$ are flying out of Brazil.
Rut Ro

No faith in the Rial or Brazil I guess
Jan 08th, 2014 - 10:12 pm - Link - Report abuse 0
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