Brazil needs two years to restore export levels: finance minister

12:36, May 11, 2010      

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Brazilian Finance Minister Guido Mantega said on Monday that his country will need about two years to restore exports to normal levels.

Noting that the U.S. economy is already showing signs of recovery, Mantega said that this will contribute significantly to the rise of Brazilian exports, which were affected by the global financial crisis.

Commenting on the economic problems currently facing Europe, the minister stressed that Brazil's growth will remain the same despite the European woes.

"The consequences for Brazil were the volatility in the stock market and the capital flight, but nothing worrying," Mantega said. "Brazil remains solid and ready for crises much worse than this one."

To avoid the economy overheating, the minister added that the government is considering cutting governmental expenses and ending some stimulus measures.

"Some say there is overheating. I am not sure if there is, but the economy has certainly warmed up. Because of that, the stimuli are being taken back," Mantega said.

Source:Xinhua

(Editor:黄蓓蓓)

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