In 2020, Growth in Brazil’s GDP will Double, says Economy Minister

RIO DE JANEIRO, BRAZIL – Brazilian Economy Minister Paulo Guedes said on Wednesday, October 30th, that growth in the country’s Gross Domestic Product (GDP) in 2020 will be at least double the result this year.

According to the minister, the Brazilian economy should end this year with growth of just under 1 percent and in 2020, that figure will be 2 percent or 2.5 percent.

“This is the first time that you have had this combination of growth and declining inflation,” said the minister during an event promoted by the newspaper O Estado de S.Paulo.

“Economic growth is starting slowly, but surely it will be more than double next year than this year,” said Guedes.

The minister stressed that, in addition to the reforms that the government was able to carry out, many previously stymied trade agreements got off the ground.

“Mercosur had been at a standstill for eight years; it moved; the agreement with the European Union had been at a standstill for 20 years, it moved; the social security reform itself moved; we broke the monopoly of gas distribution and exploitation, and that will bring down the price of energy, and we will industrialize the country on top of cheap energy,” he said.

Guedes said that in a week, the so-called Provisional Measure (MP) for Sanitation, which deals with private investments in the sector, should advance in Congress.

“There will be a wave of investments in sanitation. The privatization of investments in sanitation will really bring sanitation to Brazilian cities,” he said.

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