Brazil may be one of first countries to come out of crisis, Economist says

12 June 2009

London, United Kingdom, 12 June – Brazil may be one of the first countries to come out of the current crisis as it was one of the last to go into recession, according to this week’s edition of British magazine, The Economist.

In a report entitled, “Ready to Roll Again” the magazine noted that, despite contraction, the Brazilian economy had had better than expected performance in the first quarter as the Gross Domestic Product had posted a drop of just 0.8 percent as compared with the last quarter of 2008.

As well as this, according to the report, the value of the stock market and credit levels were now practically at the same level as at the end of 2008 when he crisis got worse.

Many analysts now believe that Brazil is starting to see growth again and will post an annual growth rate of between 3.5 and 4 percent in 2010, the Economist noted.

“If that is confirmed, it means that Brazil will merely go through a brief recession,” the report concluded. (macauhub)