Brazil needs two years to restore export levels: finance minister

12:36, May 11, 2010      

Email | Print | Subscribe | Comments | Forum 

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.



  • Do you have anything to say?


Special Coverage
  • Premier Wen Jiabao visits Hungary, Britain, Germany
  • From drought to floods
Major headlines
Editor's Pick
  • On Sept. 26, a resident passes by a flower terrace decorated for the coming National Day. (Xinhua/Hang Xingwei)
  • The photo, taken on Sept. 26, shows the SWAT team ready for the joint exercise. (Xinhua/Wangkai)
  • Two metro trains in Shanghai collided Tuesday afternoon, and an identified number of passengers were injured in the accident, the Shanghai-based reported. Equipment failures were believed to have caused the crash on the Line 10 subway, Xinhua quoted local subway operator as saying.
  • An employee at a gold store in Yiwu, located in east China's Zhejiang province, shows gold jewelry on Monday.(Xinhua/Zhang Jiancheng)
  • Tourists ride camels near China's largest desert lake Hongjiannao in Yulin, north China's Shaanx Province, Sept. 24, 2011. Hongjiannao is shrinking as a result of climate change and human activities, and may vanish in a few decades. Its lake area, which measured more than 6,700 hectares in 1996, has shrunk to 4,180 hectares. Its water level is declining by 20-30 centimeters annually and its water PH value has risen to 9.0-9.42 from 7.4-7.8. (Xinhua/Liu Yu)
  • Actors perform royal dance at the Gyeongbok Palace in Seoul, Sept. 27, 2011. A ceremony commemorating the 38th South Korea Sightseeing Day was held in Gyeongbok Palace on Tuesday. (Xinhua/He Lulu)
Hot Forum Discussion