Rio, 2/9/2004 (Agência Brasil - ABr) - At a debate on the world economic situation sponsored by the Industrial Federation of Rio de Janeiro (Firjan), business leaders, economists and analysts agreed that the present situation may be the beginning of a period of extended growth.

According to Paulo Mendes, a Goldman Sachs vice president for Emerging Markets, there is worldwide growth with a strong rise in demand. He added that Brazil should be able to take advantage of the moment and achieve a growth rate of 3% to 4% this year.

Mendes pointed out, however, that the situation is not ideal. Brazil still needs to deal with fiscal problems, increase domestic savings and attract more long-term investments, along with a reduction of the tax load, further opening of the economy and greater transparency in government economic policy decisions. (AB)