Brasília, August 1, 2003 (Agência Brasil - ABr) - The 2004 budget will be 10% greater than this year's. This affirmation was made by the Minister of Planning, Budget, and Management, Guido Mantega. After meeting for three days with all the Ministers in Lula's Cabinet, Mantega arrived at an estimate of R$ 409 billion in public and private resources. The budget for this year is approximately R$ 360 billion. "With these resources we shall get a start on the development agenda," the Minister said.

According to Mantega, the announcement of new steps to stimulate growth - such as tax breaks and new credits -, together with changes in regulations affecting strategic sectors of the economy, will attract more resources and investments. "We sense that entrepreneurs are anxious to invest in Brazil." The 2004/2007 Pluriannual Plan, which defines the government's budget strategies, must be completed by the end of August for submission to the National Congress. (DAS)