Brazilian economy expected to post growth of over 4 pct in 2012

17 September 2012

Brazil’s economy is expected to post growth of over 4 percent in 2012 and in the years that follow, the country’s Finance Minister, Guido Mantega said Friday in Sao Paulo, noting that as of the 3rd quarter the country had returned to growth and was amongst the countries best prepared to deal with the crisis.

During Forum Exame entitled “Brazil and Brazilian companies in the new world scenario,” Mantega noted the economy’s solid foundations, its financial solidity, political and legal stability, the dynamism of the domestic market and efficiency in production of raw materials.

According to the Brazilian press, the minister noted that Brazil’s budget deficit was much lower than that of other countries, and that after totalling 1.9 percent of gross domestic product (GDP) in 2011 it was expected t total 1.6 percent this year and 1.0 percent in 2013.

More advanced economies are expected to post low growth and even contraction in consumption, said Mantega, adding that the crisis was also affecting emerging and developing economies, particularly those that are most dependent on developed markets, “which is not the case with Brazil.” (macauhub)