LatinNews Daily Report - 07 December 2012

ECONOMY | U$26bn for ports. On 6 December President Dilma Rousseff unveiled a R$54.2bn (US$26bn) plan to upgrade Brazil’s creaking ports, with the help of the private sector. Tenders will be awarded to companies delivering capacity increases at the country’s 34 main ports including Rio de Janeiro, Paranagua, Porto Alegre Itaqui, Pecem, Suape and Santos. President Rousseff said she hoped for “an explosion” of private investment alongside the federal government efforts. She noted that 95% of Brazil’s trade passes through its ports. The port investment scheme is the latest in a series of major PPI infrastructure schemes announced this year by the Rousseff administration, including a R$133bn (US$67bn) package for roads and railways and the concession to date of three major airports to the private sector. On 5 December Rousseff also announced an additional credit line of R$100bn (US$50bn) for companies investing in new technology, innovation and exports under the investment support program (PSI).  Amid stalled economic growth, the government is focusing its policy efforts on stimulating capital investment; gross fixed capital investment was only 18.7% of GDP in the third quarter, the fifth consecutive quarterly decline.

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