Tuesday July 14, 01:53 AM
Brazil sees 2010 growth rebounding to 3.5 pct
BRASILIA (AFP) - Brazil sees its economy rebounding next year, with projected growth of 3.5 percent after a contraction this year brought on by the global financial crisis, the state news agency Agencia Brasil has reported.
Finance Minister Guido Mantega and central bank president Henrique Meirelles told government ministers they expected gross domestic product to expand by at least 2.5 to 3.5 percent in 2010.
That corresponded to the figure put forward by analysts consulted by the central bank.
The analysts' latest forecast, published Monday, was for 3.5 percent GDP growth after a contraction of 0.34 percent this year. Inflation was seen at 4.5 percent for this year, in the middle of the government's target band.
Institutional Relations Minister Jose Mucio Monteiro said that while Brazil's economy had shrunk in 2009, the contraction was less than the global average.
"That's something that reassures us," he said.
"It shows we are facing the crisis with a forecast of finishing this year in positive territory, with a forecast of creating new jobs, with an economy again showing signs of warming up," he said.
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