Brazil GDP growth expected at 4.5%
Brazil is expected to record GDP growth of 4.5 per cent, the country’s minister of finance has revealed.
Guido Mantega told reporters that the current global stock market instabilities are not set to affect Brazilian growth this year.
He said: "I believe that this international financial turbulence has not finished yet. However, it has a very small repercussion in Brazil.
"It will not interfere with economic growth, which may reach some 4.5 per cent this year."
He added that the government’s policy of targeting inflation would continue and the sub-prime crisis hitting world markets would not result in interest rate rises in Brazil.
Meanwhile, Brazil’s Central Bank President Henrique Meirelles has echoed Mr Manteg’s sentiments and predicts that GDP growth for Brazil should hit 4.7 per cent, unaffected by market instabilities.
He said: "At the moment, there are no indications that there could be a revision on the (growth) figure."
In 2006, Brazilian GDP growth was at 3.7 per cent.
