BRASILIA, BRAZIL-President Dilma Rousseff stated that Brazil needs to cut high business cuts if they want to become more competitive, while also promising to keep inflation in check. Rousseff anticipated 2013 to be a year that focused on infrastructure investments on roads, railways, ports, and airports, so that transportation could help to free up the economy.
Rousseff believes that Brazil has no choice but to become more competitive by reducing costs and opening up ports to private institutions, despite the opposition from labor unions. “Brazil has an unnecessary cost with its ports.” Rousseff stated at a meeting of government officials and business leaders. “We have to open up to competition are part of the so-called Brazil Cost.”
Favouring competition over quality, Rousseff further stated that, “our country has to change, and change in the direction of greater competitiveness.”
The Brazilian oil industry will step into this roll by tapping a large potential of it’s offshore oil reserves, auctioning off the oil in November. The offshore fields are believed to hold as much as 100 billion barrels of oil. By 2020, it is believed that Brazil will be one of the world’s major oil producers.
The world economy is expected to grow, and this will also help Brazil grow.
By: Julia Roake
Source: MercoPress
28 February 2013
09:30am PDT