Rio - The president of the Economic Council of the Federation of Industries of Rio de Janeiro (Firjan), Carlos Mariani Bittencourt, says that for the first time in decades Brazil's foreign accounts are in order, inflation is under control and fiscal restraint has generated surpluses. And one of the highlights is a trade surplus "unimaginable two years ago." According to Mariani Bittencourt, the possibility of GDP growth reaching 4% is getting stronger all the time.

Bittencourt went on to say that renewed economic activity is a reality and that if it wasn't for the high interest rates and the tax burden, "Brazil would be a paradise." He added that the spike in growth was already being felt in expanding employment, higher installed capacity use and more purchasing power for wage earners.

Agência Brasil
Reporter: Alana Gandra
Translator: Allen Bennett
07/29/2004