Deu no New York Times: As Growth Ebbs, Brazil Powers Up Its Bulldozer

 

“The government is pressing ahead with projects of pharaonic proportions, when areas like basic sanitation need urgent attention,” said Sergio Lazzarini, an economist at Insper, a São Paulo business school, who has written widely on Brazil’s state capitalism. The investment push is already showing signs of strain. So many infrastructure projects have been approved at once, including stadiums for the World Cup soccer tournament in 2014 and hydroelectric plants in the Amazon, that the government is having a hard time spending all the money allocated. For instance, just a fifth of the $7 billion budgeted for highway projects in 2012 has been spent.

The officials at the helm of Brazil’s state-controlled companies argue that the nation still needs such sprawling projects to consolidate the gains in reducing inequality. “It’s a catalyst of job creation,”


readmore:
Brazil Combats Slowdown With Even More Stimulus - NYTimes.com: T