Brazilian president envisions better year for economy

Brazilian president envisions better year for economyRio de Janeiro, Dec 28 - Brazil's economy will get better in 2013 after a sluggish growth this year, President Dilma Rousseff said.

"There will be a better environment in 2013, which will be favourable to Brazil. But we are an economy which can already walk with its own feet," she said Thursday.

Brazil's central bank Dec 20 cut its gross domestic product growth forecast for 2012 from 1.6 percent to 1 percent. However, Finance Minister Guido Mantega this month expected Latin America's biggest economy to grow at around 4 percent in 2013, reported Xinhua.

The government was taking measures to achieve a sustainable growth, including tax cuts and actions to boost the competitiveness of the Brazilian industry, said Rousseff.

Early this month, the government said electricity rates would be slashed by 16.7 percent in 2013 to improve industrial competitiveness.

It has also eased social charges in various sectors, reduced taxes on cars and home appliances, and continued to invest in infrastructure, energy and transportation. The annual basic interest rate fell to a record low of 7.25 percent this year. (IANS)

Check out More news from Telecom Sector :: Pharmaceutical Sector :: Auto Sector :: Infrastructure :: Real Estate

Popular Stories

Sufi legend Begum Yaman passes away at 52

New Delhi [India], Apr 28 : Famous sufi singer and... Read More

No farmer committed suicide over drought: TN Govt. to SC

New Delhi [India], Apr. 28 : In a development bound... Read More

Never took studies as 'burden', says JEE 2017 topper

Udaipur (Rajsthan) [India], Apr 28 : Kalpit Veerwal... Read More

Narada sting: ED files case against TMC leaders

New Delhi [India], Apr. 28 : After the Central... Read More

UP STF raids petrol pumps, eight caught using cheating chip

Lucknow (Uttar Pradesh), April 28 : The special... Read More

UP school issues bizarre diktat: Yogi haircut

Meerut (Uttar Pradesh) [India], Apr 28 : In a... Read More