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Brazil’s central bank optimistic about the economy

Written by thomas · Filed Under Commercial 

March 6, 2009

thomas

Brazil’s Central Bank President, Henrique Meirelles, said this week in Portugal during a meeting of Ibero-American finance officials; “We are in the process of reviewing our forecast but our estimate is that we will grow above the global average”. He said Brazil’s economy was in a strong financial position, with 200 billion US dollars in international reserves. “This will allow the country to face scarcity of international finance”. While Brazil has been hit by the financial crisis as it experienced a sharp fall in the commodities it sells to the world, both in volume and price. However, Meirelles said domestic demand, which is a significant component of the country’s economy, continue to grow.

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