Brazil's government may ease its primary surplus target next year to create room to carry out additional tax cuts to boost growth, Folha de S. Paulo newspaper reported Monday.
The jump in Brazilian consumer prices this month was a temporary reversal and won’t jeopardize the government’s 4.5% inflation target this year, central bank President Alexandre Tombini said on Monday.
The head of the Brazilian Senate and former president Jose Sarney said he had his reservations about the incorporation of Venezuela to Mercosur as full member since the government of Hugo Chavez does not respect democratic rules.
The President of Investe São Paulo -the gateway for companies that intend to settle their operations in the Brazilian state- referred to the ongoing foreign investment boom in the neighbouring country is due in part to the “lack of both legal and economic security that Argentina and its government have.”
Paraguay is prepared to demand Mercosur co-members before the International Court of Justice at The Hague for what it describes as “violation of signed treaties” and sustained “international isolation” following the rejection of an appeal to have sanctions lifted.
Ambassador to Ghana, Irene Vida Gala announced that Brazil has plans to make available a 96-million-dollar loan facility to boost small-scale and rural farming in Ghana to help increase food production and subsequently improve the country’s bread basket.
The Brazilian government questioned as outdated the latest IMF report, released Friday July 20, in which the Fund calls for more domestic savings and greater attention to inflation.
Venezuelan president Hugo Chavez said he had talked with his peer from Brazil Dilma Rousseff who confirmed the invitation to an extraordinary meeting of Mercosur next July 31 in Rio do Janeiro.
Consumer prices in Brazil rose faster than expected in the month to mid-July on higher food costs, suggesting the central bank may have less room than previously believed to cut interest rates much further.
The Brazilian government said Friday it was cutting its economic growth forecast for this year from 4.5% to 3% due to the impact of the global slowdown. However the figure is still higher than the 2.5% predicted by the Central Bank.