The future Brazilian Ministry of Economy will be divided into three portfolios

Former minister Aloizio Mercadante, the coordinator of the technical transition groups, said on Wednesday (Dec. 7) that the Ministry of Economy will be divided into three portfolios in the new Lula da Silva government.

The ministries of Planning, Budget and Management (MPOG); Finance; and Industry, and Foreign Trade and Services (MDIC) will be recreated.

“We had the Ministry of Finance; the Ministry of Industry, Foreign Trade and Services; and the Ministry of Planning, Budget and Management. These structures will come back into existence.”

“Brazil was much more efficient and had much more competent policies with this distribution than taking and throwing everything into the economy,” said Mercadante.

“Every intra-government demand is in the Planning and Budget Ministry, and it is fundamental even to relieve the Ministry of Finance to take care of the fiscal, macroeconomic policy. Second, industry and foreign trade generate employment and investment,” he added.

According to the former minister, the National Bank for Economic Development (BNDES) and the Brazilian Export and Investment Promotion Agency (Apex) will be in the new Ministry of Industry, Foreign Trade and Services.

More: Brazil news in English, every day from The Rio Times.