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Source: Brazil election jitters may hit investments in 2014
Brazil’s presidential vote will likely delay some investment decisions this year but spending on infrastructure is expected to remain strong, a senior government official told Reuters on Tuesday. Although president Dilma Rousseff is the favorite to win the October 5 general election, many investors could withhold funds until the next government outlines its plans for the following four years, which could hamper the country’s already slow economic growth.
“It is obvious that businesses will delay some investments until after the election to have more clarity,” said the official, who asked not to be named because he is not allowed to speak publicly. “But investment in infrastructure will not be affected because a lot of that construction is already under contract.”
The official, who is involved in economic policy decisions, said the government expects investment commitments of about 100 billion reais (US$45.48 billion) between 2014 and 2015 in roads, ports, airports, power generation and distribution projects.
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