Brasília - Minister of Planning, Guido Mantega, says the 5.7% GDP growth in the second quarter is a sign of economic consistency, with growth occurring in all segments. Mantega pointed out that the services sector is growing along with the construction sector. "We are going through a very important moment," he said. The 5.7% GDP growth rate is the strongest since 1996.

Mantega's remarks were made after he delivered the government's proposed budget for 2005 to the president of the Congress, senator Jose Sarney (PMDB-AP). He added that the budget was on track with the economic growth.

The 2005 budget sets the primary surplus at 4.25% of GDP, and forecasts GDP growth of 4%.

Under Brazilian law, the executive must present its budget to Congress by August 31. Congress must vote on the budget by December 31.

Agência Brasil
Reporter: Ellis Regina
Translator: Allen Bennett
09/01/2004