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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum -- Ignore unavailable to you. Want to Upgrade?

To: Elroy Jetson who wrote (28578)	1/28/2008 4:38:58 AM
From: elmatador	Respond to of 218005

Brazil '08 growth 4.5 pct, despite US. Brazil's economy will grow by 4.5 percent this year despite a slowdown in the U.S. economy, central bank chief Henrique Meirelles said on Sunday. "We are assuming there will be an important slowdown in the U.S. economy with impacts on other economies," Meirelles said in an interview with O Estado de Sao Paulo newspaper. "Adding other factors, that gives a (4.5 percent) growth rate, which summarizes our expectations of the impact of the U.S. crisis on Brazil," Meirelles said. Finance Minister Guido Mantega said last week that economic growth could slow slightly but would be close to 5 percent. Weaker U.S. and global economic growth could reduce Brazilian exports and capital inflows, Meirelles said. But record international monetary reserves of $185 billion and a freely floating exchange rate would allow Brazil to weather international market turmoil better than in the past, Meirelles said. "The floating currency and the volume of reserves give the country some security in facing fluctuating balance of payments and capital flows," Meirelles said. The country's leading financial institutions expected gross domestic product growth of 4.5 percent this year, according to a survey published by the central bank last Monday. (Reporting by Raymond Colitt; Editing by Quentin Bryar)