Economic slowdown ‘no consequence’ for Brazil
Brazil’s finance minister has said that the current economic slowdown will have "no major consequence" for Brazil.
Guido Mantega, finance minister for Brazil, told the Associated Press: "I believe there will be no major consequence of this turbulence, which will have been fully assimilated in 2007."
He added that should there be "some kind of deceleration in the world economy" its impact on Brazil would only be minor.
Mr Mantega made the claims following news that Brazil’s trade surplus has "edged down" from $3.53 billion (£1.72 billion) to $3.47 billion (£1.7 billion), according to the Brazilian trade ministry.
The Bovespa index has gained 39 per cent in 2007 and surpassed the 62,000-point mark for the first time at the beginning of this week.
The index has also achieved five all-time highs in six sessions in 2007, indicating a strong year for the Brazilian economy despite unrest in the global market.
Brazil is Latin America’s largest economy and posted a record trade surplus of $46.08 billion (£22.6 billion) in 2006, with a surplus of $4.47 (£2.19) billion in September alone.
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