Newsletter 41st Congress Day 1


Economist predicts increased employment, consumption and industrial activity

In his presentation, economist Ricardo Amorim predicted that the Brazilian economy would pick up in the coming months, with an emphasis on consumption, employment, and industrial activity. “The population’s confidence should increase as people are vaccinated, which will lead to the normalization of economic activities and increased consumption”, he stated, noting that the economic contraction caused by the coronavirus was the most intense and most acute that Brazil has ever faced in the last 120 years. “But the recovery that we had afterward was also the biggest in history”, he added. “GDP in the third quarter registered the highest quarterly growth in Brazilian history, and in the fourth quarter, it was the third-largest”.

According to Amorim, the circular economy, the anchor theme of ABPI’s 41st Congress, will lean towards becoming increasingly important, following the increase in society’s interest in cleaner and more sustainable products. He defended the need for investment in the BPTO as a way to guarantee investment in innovation. “It is important that the BPTO manages to use its resources and, thus, have greater responsiveness”.

For the economist, the compulsory license weakens the patent system and must be used under specific conditions. “Reducing the life of patents reduces the return on investments and, as a result, reduces innovation”.

For those who are amazed at the rapid pace of change, both in social and economic life, Amorim warns that the accelerations will continue and will be much greater. “The new normal is not another normal, watertight, which shakes and stabilizes at a different level. The new normal is the acceleration of transformations”.