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Citizen today, December 2011 - Brazil's economic success - EY - Global

Citizen today, December 2011

Brazil's economic success

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"Our macroeconomic pillars include low inflation, low public debt and a fast-increasing middle class." Julio Bueno, Secretary of Economic Development, Energy, Industry and Services for the State of Rio de Janeiro

Julio Bueno, Secretary of Economic Development, Energy, Industry and Services for the State of Rio de Janeiro, explains the elements of Brazil's economic success.

A top 10 world economy

Brazil has managed to evade the worst of the financial problems enveloping much of the rest of the world. It is among the top 10 world economies and is set to host the Olympics and World Cup.

Even though its GDP growth of 3.8% this year is down from last year's 7.6%, it is still in a better position than some North American and European economies.

Pillars of growth

Julio Bueno, Secretary of Economic Development, Energy, Industry and Services for the State of Rio de Janeiro, believes Brazil's open democratic system, together with its array of diversified natural resources, has created a highly attractive investment climate.

"Our macroeconomic pillars," he adds, "also include low inflation, low public debt and a fast-increasing middle class."

Bueno is responsible for forming and implementing the state policy development in the areas of energy, logistics, industry, commerce and services.

Some of his successes are in Rio de Janeiro, which is the only city in Brazil to create a business agency to facilitate investors and promote the growth of its main industries.

Its work has helped boost the rapid development of a number of industrial sectors; steel, oil and gas, infrastructure and tourism have all made huge leaps forward in recent years.

Opportunities to expand

"We have a lot of opportunities to develop ports and airports, for example, as well as roads and railways," Bueno says. "All these areas are challenges — we need to improve these areas to make it easier for people and goods to be transported across our country. We need more investment and to be more open to the private sector."



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