Rousseff says fiscal plan to pull Brazil out of recession

Brazil holds the largest rain forests in the world.

“Brazil is one of a few developing countries to commit to an absolute emissions reduction target”, Rousseff said at the United Nations.

Brazil, custodian of the world’s largest forest and concentration of biodiversity, on Sunday plans to announce its goals to reduce carbon emissions, just days before the deadline for countries participating in December’s climate summit in Paris.

Rousseff also said that Brazil will aim to obtain 66% of its electricity from hydropower and 23% from other renewable energy resources such as wind, solar and biomass.

Not preparing itself for lean years while its economy expanded created an “ugly toxic mix”. “Brazil should rapidly shift away from high-carbon energy investment in line with the global efforts to slow global warming”. “The critical piece is: What are the next three steps Brazil takes to ensure that this is turned into a reality?”

Brazil has already made significant strides in curbing its greenhouse gas emissions, particularly by dramatically reducing deforestation by 75 percent in the last decade, compared to the decade before. “This is the future we are building”, she said. The country’s currency is down more than 30 percent this year as the administration struggles to plug a growing fiscal deficit in the midst of a political crisis triggered by the corruption scandal engulfing state-run oil company Petrobras.

Rousseff defended the Brazilian economy as “stronger, more solid and resilient” than it was years ago, as it tries to stave off further downgrades by ratings agencies after Standard & Poor’s recently revised down the country’s debt rating to “junk” status.

Inflation next year will reach 5.87 percent, up from the previous estimate of 5.7 percent, according to the September 25 central bank survey of about 100 analysts.

She also stated a number of further commitments Brazil intents to make, such as putting an end to illegal deforestation in Brazil, increasing in reforestation of the Amazon, and a number of different energy initiatives including investing in renewables.

Rousseff is trying to fight off widespread calls for her impeachment or resignation, which gives her scant political capital to force austerity measures through Congress to halt across-the-board economic hemorrhaging.

She also commended UNs recent adoption of 2030 Agenda and the Sustainable Development Goals (SDGs) and applauded the Organizations effort in prioritizing urban challenges such as gender and race.

“We are facing an expansion of terrorism, destruction of cultural heritages and displacement of thousands and thousands of people by conflicts and we can not stand idly by the cruel actions of the so-called ISIL”, she pointed out.