New York, November 18, 2003 (Agência Brasil - ABr) - The secretary of International Affairs of the Ministry of Finance, Otaviano Canuto, said on Monday (17) that foreign direct investments should amount to US$ 15 billion in 2004. For him, investments this year should come to between US$ 9 and 10 billion, as a result of the crisis of confidence experienced by Brazil at the end of last year.

He believes that, although the volume will not reach the level of three years ago, during the period of privatization, there will be a recovery next year. "Judging by the gross influx during the second half of the year, one perceives that there is a tendency for a recovery in foreign direct investments."

For Canuto, who was in New York participating in Brazil Day, an encounter between Brazilian and American entrepreneurs, the Brazil risk premium can fall to 400 points soon. "It is a matter of sufficient time for a re-evaluation by market actors," the secretary said, adding that a condition for this to occur is to keep economic policy on the same course and complete the regulatory guidelines for infrastructure sectors. With this, in his view, the economy will resume growth. (DAS)