He must also announce who will be appointed to the key position as economy minister in the new government.

With some economy ministers, he served as their personal advisor.

From 1980 to 1984, he served as economy minister.

Bunge provided the government with its first two economy ministers.

Brazil does not plan to make payments on its foreign bank debt this year, the nation's economy minister said Friday.

There is potential for growth within consumer goods, with up to 50pc of demand currently met by imports, according to the economy minister.

The finance secretary is effectively the economy minister's deputy, with specific responsibility for the public debt.

At present, the Economy Minister is responsible for overseeing the stock market.

In 1964, he was appointed governor of the central bank while holding the post of economy minister.

"People are not consuming because they are afraid," the economy minister said.