For Brazil’s Central Bank Chief Economy Is Already on the Rebound

The economy of Brazil is showing "clear signs of recovery", in the evaluation of Central Bank president Henrique Meirelles. According to him, there are signs of recovery in the demand for goods and services, "due to the strong component of growth in employment and in income in recent years".

Apart from that, Meirelles mentioned inflation under control, which preserves the buying power of the population.

"All of this grants Brazil capacity to leave the crisis stronger. We are creating imbalances to fight the crisis, we are maintaining the Brazilian State balanced," said the president. In Meirelles' evaluation, the country should leave the crisis in conditions to "accelerate this strong growth" late this year and in 2010.

Meirelles also added that the figures regarding the Gross Domestic Product (GDP) of Brazil are disclosed with slight delay. "The GDP of the first quarter should be disclosed in July, when the condition of the economy was certainly different."

According to Meirelles, the market has varied significantly in terms of expectations concerning the GDP, which is "normal". "The disparity between estimates for growth of the world economies is very great. This is naturally due to the dimensions of the global crisis."

ABr