‘Brazil is going in the other direction’, says economy minister Paulo Guedes

RIO DE JANEIRO, BRAZIL – Economy Minister Paulo Guedes said in New York in an interview with Bloomberg TV that one of the consequences of the war could be global inflationary pressures in food, grains, fertilizers, and energy.

He said the world economy is in a downturn that the war could exacerbate, but Brazil is “out of sync” because it is growing. “Brazil is going in the other direction,” said the minister, for whom the country is transitioning from a state-led economy to one driven by the market.

“By the end of the year, we will have US$200 billion in investment commitments, in the form of contracts already signed for private investment,” he said.

He compared the investments in ports, roads, and the electricity sector to “two Marshall Plans” (the one that rebuilt Europe after World War II).

With information from O Estado de S. Paulo

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