Brazilian President Dilma Rousseff, who hopes to be re-elected for a second term in October’s elections, has defended her government’s industrial policy in front of the sector’s business leaders, the National Confederation of Industry (CNI).
The Brazilian industrial federation on Wednesday upped its 2013 growth forecast to 1.4% from 1% and its GDP growth projection from 2% to 2.4%. But, despite the better data, the National Confederation of Industry (CNI) urged caution. The improved economic outlook is no guarantee of a strong growth rate, it said.
The powerful Brazilian National Confederation of Industry, CNI said that the country and its Mercosur partners will end ‘isolated’ if they don’t actively look for alternative trade accords, as is being done by other Latam countries.
Brazil ranks near the bottom among fourteen emerging powers in terms of competitiveness, due to high capital and labor costs as well as inadequate infrastructure, according to a study commissioned by the National Confederation of Industry (CNI) and published by the Folha de Sao Paulo daily.