Brazilian economy continues to grow

Date added: 29th July, 2008 at 15:07 (view all articles from July, 2008)

Categories: Economy

Brazil's president has revealed that the country's economy has performed strongly in recent months, despite global financial pressures.

Many countries across the world are currently experiencing a downturn as a result of the global credit crisis and rising fuel prices.

However, President Lula da Silva believes Brazil is weathering the current economic storm and continuing to experience growth, reports MercoPress.

"I think we are going to continue growing even when this inflation caused by food prices worldwide is most fluid," he commented.

President da Silva added that the government is combating inflation by increasing production in sectors such as agriculture.

He stated that the Brazilian economy is currently showing "strength" and "sustainability".

Agriculture was recently highlighted as an important sector for the country by labour minister Carlos Lupi.

He was quoted by Brazzil Mag as saying that officials in the industry are currently investing in more state of the art technology, as it has made production processes more efficient.

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