IMF forecast for Brazil's growth pessimistic: central bank governor
27/11/2008 16:27
The International Monetary Fund (IMF)'s prediction about Brazil's economic
growth next year is pessimistic, the country's central bank governor said
yesterday.
Henrique Meirelles, the central bank president, told a session of
the Congress budget committee that Brazil is "stronger than ever" despite the
impact of the international financial crisis.
Losses from the international
financial system have already been recovered, and there are US$600 billion at
disposal for recapitalization of Brazilian banks, Meirelles said.
The IMF has
predicted Brazil's economy will only grow 3 percent in 2009.
The domestic
market has been growing, over 2 million jobs had been created by October, and
industrial production increased 6.8 percent in September, he said.
The
Brazilian government has already injected US$49 billion into the domestic
market, and another 91 billion reais (US$40 billion) were assured after the
government adjusted the compulsory deposits regulations the sixth time since
late September, said Meirelles.
Brazil's economy has expanded steadily and
rapidly over the past few years. Its GDP grew 6.1 percent in the first seven
months of 2008.
Xinhua
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