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Brazil's Economy
Recovering From Financial
Crisis: FM
Rio de Janerio -
Brazil's economy has passed through the
worst period of the global financial crisis
and is now in the process of recovery,
Finance Minister Guido Mantega said on
Wednesday.
"It does not mean the crisis is over, but
that its acute phase was left behind," he
said.
Admitting that Brazil had suffered a quick
economic deceleration in the last quarter of
2008, Mantega said the economy has been
showing signs of recovery, especially in
March and April.
Brazil was the last country affected by the
crisis, and may be one of the first to
overcome it, he said.
The Minister's optimism did not apply to the
global economy as the world's biggest banks
are still suffering from the crisis despite
signs of improvement.
According to Mantega, the G20 meeting held
earlier in April increased the confidence in
the markets, but distrust still exists.
Despite that, Mantega believed the crisis
would end earlier than expected. He also
expected the United States to register some
growth in the last quarter of 2009.
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