New Delhi - Minister of Development, Luiz Fernando Furlan, had a happy Monday in India due to the news of strong export performance back in Brazil where the trade surplus for January already reached more than US$1 billion. "We are about to set a new record for January surpluses," said Furlan, who is in India as part of the group accompanying president Luiz Inacio Lula da Silva.

Furlan observed that January exports should reach US$5 billion and that the government's goal is to reach the end of the year with US$80 billion in total exports. He said he was counting on strong performances not only by vehicles and autoparts, but also aircraft sales.

The minister said a devaluation of the real would not be necessary to boost exports, although some economic segments were calling for one. He explained that he was expecting inflation of between 4% and 5%, which would be compensated by an expected 4% to 5% rise in productivity. (AB)