Brazil announces plan to boost exports

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IANS | 18 Feb, 2012

President Dilma Rousseff said her government will do more to foster expanded output and exports with the aim of making Brazil more competitive.

"This year we will deepen the tax measures for stimulation of production and exporting," she said at the opening of the Festival of the Grape in the southern wine-producing state of Rio Grande do Sul.

Easier credit, "stimulus for innovation and labor training" and other efforts to battle "predatory trade practices" will also be part of the initiative, the president said.

The state of the international economy demands that

Brazil

become more competitive, Rousseff said.

January brought

Brazil

's first monthly trade deficit in two years, as the value of imports exceeded that of exports by $1.29 billion.

Even so, Latin America's largest economy enjoyed a cumulative trade surplus of $29.79 billion last year, up 47.8 percent from 2010.

The Brazilian economy will grow 4.5 percent this year, 5.5 percent next year and 6 percent in 2014, according to the latest forecast from the finance ministry.

Brazil

's gross domestic product likely grew by 3.2 percent in 2011, the ministry said Monday in a preliminary estimate based on data for January-September.

"The year 2011 was important to consolidate the trajectory of long-term growth in an international environment of clear deceleration," the finance ministry said in a report that projects average annual GDP expansion of 4.8 percent over the next three years, compared with 4.6 percent in 2009-11.