BNDES Puts Brazil Growth at 6% as Investment Rises, Estado Says
Bloomberg, April 11, 2010
April 11 (Bloomberg) -- Brazil’s economy is poised to grow almost 6 percent in 2010, as investments expand between 18 and 20 percent, O Estado de Sao Paulo newspaper said, citing Luciano Coutinho, president of the state development bank BNDES.
The country has no inflationary pressures and markets are “a little short-sighted” in forecasting an increase as they tend to focus on the recent past, Coutinho told Estado in an interview. While it is “too early to predict the arousal of inflationary tensions,” Coutinho is “confident” Brazil’s Central Bank will control the market pressure, according to the Sao Paulo-based newspaper.
Private sector investments have been increasing since the third quarter of last year and are expected to remain strong this year, Estado said, citing Coutinho.