Recife - The president of the National Confederation of Industry (CNI), Armando Monteiro Neto, affirmed that Brazil has reencountered economic growth, after years of "marasmus." He pointed out that the sector responsible for levering development was the construction industry, which was practically stagnant and gained renewed energy with the resumption of investment. The projected growth of the sector for 2005 is 5.8%.

The president of the CNI optimistically observed that the secondary sector obtained results superior to the average rate of growth as a result of a joint effort with the federal government, which created an environment favorable to investments. "Inflation is under control, the trend in government accounts is healthy, and external vulnerability declined with the trade balance surplus," Monteiro remarked.

According to the president of the CNI, now the challenge for maintaining the development indices is to implement such measures as lowering the Industrial Products Tax (IPI) on machinery and equipment, shortening the period for recompensing Social Security Finance Contribution (Cofins) credits, and stimulating investments.

Agência Brasil
Reporter: Marcia Wonghon
Translator: David Silberstein
12/13/2004