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Exports can help boost Brazilian economy in times of fiscal adjustments: minister

Xinhua, June 26, 2015 Adjust font size:

Exports can help Brazil overcome its current difficult economic situation at times when the government is carrying out fiscal adjustments, a minister said on Thursday.

Brazil is having a good opportunity because, with the devaluation of the Brazilian Real against the U.S. dollar, the exchange rate is favorable to exporters, Brazilian Development, Industry and Trade Minister Armando Monteiro said.

"Foreign trade is an absolute priority channel at this moment. We have an opportunity because the exchange rate is favoring us," he said.

The minister admitted that the Brazilian economy is going through a rough path and the country needs to increase financing for exporters.

The Brazilian government launched on Wednesday a plan to boost exports by reducing bureaucracy, adjusting taxes and increasing financing for exporters.

The government will also identify good markets for Brazilian products and try to facilitate exports to those destinations.

The initiative is one of a series of moves to spur Brazil's economic recovery. Over the past weeks, the government has also launched a logistics plan, an agribusiness plan, a family farming plan, among others. Endi