Rousseff shows support for government’s economic policy
Rousseff: “Inflation has been kept within the limits set by the National Monetary Council for 11, now 12 years, and it will remain so in 2014,”
President Dilma Rousseff expressed on Thursday (Apr. 3) her support for the country’s economic policy and said her administration has been successful in keeping inflation within the target for the past 12 years.
On Wednesday (2), in another attempt to curb inflation levels, the Central Bank rose the benchmark Selic rate to 11% per annum – the ninth consecutive hike.
“Inflation has been kept within the limits set by the National Monetary Council for 11, now 12 years, and it will remain so in 2014,” the president declared.
Rousseff further mentioned other positives results made possible by the economic policy. She says, for instance, that the relationship between the net debt in the public sector and the gross domestic product (GDP) – a relationship used for ascertaining how capable the country is of paying its domestic debts and be economically viable – is on the wane. “In 2002 it reached 62%; now it stands at 33.7%. Our fiscal policy remains, taking into consideration this downward tendency,” the president said in her speech during a forum with trade associations in Brasília.
The president also argued that Brazil, in spite of the ups and down in the global financial market, has managed to build up substantial reserves over the last years. “Our reserves,” Rousseff points out, “protects us from extreme volatility. We’re one of the developing countries with the largest reserves, totaling $377 billion.”
Translated by Fabrício Ferreira
Fonte: Rousseff shows support for government’s economic policy
