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Brazil & Southern Cone - June 2012 (ISSN 1741-4431)

Brazil cools, but Rousseff sticks to the script

In a speech in Rio on 13 June, President Dilma Rousseff defended the use of Brazil’s massive domestic consumer market as a shield against the global economic crisis. Rousseff insisted that the government would not interrupt its investment and would continue to incentivise consumption, declaring that the ‘Sophie’s choice’ between fiscal adjustment and economic and social growth “is not correct”. “Brazil only found its rhythm when it grew”, she emphasised. Rousseff also slammed as scare-mongering the idea that “Brazil’s consumption moment is over. How can it have passed when this country had and has repressed demand?” she declared, noting that “millions of Brazilians” have yet to join the consumer market.

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