Brazil forges ahead with investment plans

摘要

BRAZIL'S steelmakers intend to continue with plans to invest 7 dollars bn by the year 2000 despite the current downturn in the Brazilian domestic market in which second half demand will be 20 percent lower than in first-half 1995, Brazilian steel institute IBS president Rinaldo Campos Soares told delegates at last week's IISI congress. The current slump comes as a foreseeable consequence of measures to stabilise the economy by achieving a sustainable economic growth rate of some 5-6 percent a year, correcting high and unsustainable levels of economic growth which reached more than 10 percent in first-half 1995. he said.