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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum -- Ignore unavailable to you. Want to Upgrade?

To: Elroy Jetson who wrote (20539)	8/2/2007 1:45:14 PM
From: elmatador	Respond to of 219195

"Brazil's strained infrastructure" Like the Mississipi bridge? or like the NY steam pipes?

To: Elroy Jetson who wrote (20539)	8/6/2007 1:08:17 PM
From: elmatador	Respond to of 219195

$16.4 billion on infrastructure in 2008. The government has been cautious with spending, even with the policy of using extra tax revenue on investment instead of reducing the debt-to-GDP ratio,'' said Lintz in a phone interview in Sao Paulo. ``Lula is taking too long to free up funds, so there's no need to worry.'' ELMAT: We don't want the bridges to startfalling! Brazil Congress to Boost 2008 Infrastructure Spending (Update1) By Katia Cortes and Luciana Magalhaes July 10 (Bloomberg) -- Brazil's congress plans to amend the government's proposed 2008 budget to increase spending on infrastructure projects, such as roads and ports, by 15 percent, said the budget guideline bill's sponsor. The congressional budget committee will propose President Luiz Inacio Lula da Silva spend 31 billion reais ($16.4 billion) on infrastructure in 2008, higher than the 29.5 billion reais proposed in the budget guideline and up from 27 billion reais this year, said lower house deputy Joao Leao in an interview. ``We need to invest more on infrastructure to allow Brazil to grow more,'' said Leao in Brasilia today. ``The economy is growing so the government will be able to spend more as it collects more on taxes.'' The plan is unlikely to jeopardize Lula's effort to lower debt as a percentage as gross domestic product because he's pledged to freeze higher spending unless the increase is matched by additional revenue, said Alexandre Lintz, a senior Latin America economist with BNP Paribas in Sao Paulo. ``The government has been cautious with spending, even with the policy of using extra tax revenue on investment instead of reducing the debt-to-GDP ratio,'' said Lintz in a phone interview in Sao Paulo. ``Lula is taking too long to free up funds, so there's no need to worry.'' Brazil's federal revenue rose 14 percent to 233.4 billion reais in the first five months of 2007 from the same year earlier period, when the government collected 204.3 billion reais, the tax agency said on June 19. 2008 Budget The government sent the 2008 budget guideline bill to congress in April and included a target for the budget surplus before interest payments, known as the primary surplus, of 3.8 percent of gross domestic product for 2008, 2009 and 2010, Leao said. The bill also set a goal of 5 percent economic growth annually through 2010. As part of the proposal, Leao raised the amount of infrastructure spending that can be deducted from the primary surplus target to 13.8 billion reais from a 12.4 billion reais proposed by the government. The deduction would allow the government to meet its primary surplus target, Leao said. Leao expects the bill to go to a vote this week, he said. To contact the reporter on this story: Katia Cortes in Brasilia at kcortes@bloomberg.net Luciana Magalhaes in Brasilia at lmagalhaes@bloomberg.net