Brazil’s finance minister forecasts economic growth of 4.5 pct in 2007

27 August 2007

Rio de Janeiro, Brazil, 27 Aug – Brazilian finance minister, Guido Mantega, said Friday in Rio de Janeiro that current turbulence in world money markets would not affect the growth of the country’s Gross Domestic Product (GDP) of the country this year.

“I think that the turbulence on an international level has not yet ended, but I also think Brazil will only be marginally affected,” Mantega told journalists.

Mantega guaranteed that the Brazilian economy would not be affected, with GDP rising 4.5 percent, and even said that the current crisis would not have any influence on growth of Brazilian GDP over the next few years.

The chairman of Brazil’s central bank, Henrique Meirelles, also said Friday that the crisis, caused by the US sub-prime mortgage market, had had no effect on the bank’s GDP growth forecast of 4.7 percent. (macauhub)