Brazil announces measures to support exporters
Date added: 10th May, 2010 at 10:00
(view all articles from May, 2010)
The Brazilian government has announced it will set up a new lender called EXIM Brasil to give financial support to companies that deal internationally in a bid to increase the nation's exports, according to Mercopress.
Domestic demand in the country's rapidly expanding economy, already the largest in Latin America, has seen the growth of imports surpass that of exports as the global financial crisis and European debts have affected the industry.
Guido Martega, Brazil's finance minister, commented on Friday that the eurozone debts will not affect the growth of the country's economy but exports might suffer.
"What could affect us is that the recovery of European countries will be slower, so that world trade will react more slowly and we will have to wait longer to increase exports to the European Union," he told Reuters.
Mercopress reported that extra support is also being provided for Brazilian exporters as those that are eligible for tax credits will receive them quicker.
It was recently that suggested that investment in Brazil from abroad may see a rise as an RCI report posted a 60 per cent increase in sales of fractional and timeshare properties in the country.
The secretary of economic policy in Brazil Nelson Barbosa said last week that he expects the domestic economy to grow between 5.5 and 6.5 per cent this year, up from his previous forecast of 5.2 per cent.