A política econômica do governo Médici: 1970-1973 [Economic Policy of the Médici Government: 1970-1973]

This article focuses on the economic policies of the Emílio Garrastazu Medici administration. This period became known for the official description of the then ongoing economic boom, as if this boom were a real developmental stage that would lead to prolonged growth for decades, thus pulling the country out of its backwardness. In the first section, we will examine the creation of a national project by the military regime, leading to the "Brazil: a Great Power" project, which was based on growth in exports of agricultural products as its core development strategy. The second section presents a detailed summary of the conduct of economic policy - with emphasis given to aspects concerning the core strategy announced, to sustained growth and to stabilization policy. The analysis highlights some specific aspects of the 1972-1973 economic scenario, suggesting that this represents a different period (a second phase) in the conduct of economic policy during the Brazilian "miracle".