Brazil 1q 2010 Gdp Shows Strongest Economic Growth and Investment in 15 Years ; Finance Minister Says 9% Quarter-On-Quarter Gdp Growth Is Well Balanced

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BRASILIA, Brazil, June 8 /PRNewswire/ -- The Brazilian federal government announced today that its first quarter of the Gross Domestic Product (GDP) in 2010 grew 2.7 percent compared to the last quarter of 2009. According to data released today by the Brazilian Institute of Geography and Statistics (IBGE), national production of goods and services amounted to R$ 826 billion, or US$ 444 billion. These results confirm that the economy has recovered from the international financial crisis. The economy achieved its strongest growth in more than 15 years, with 9 percent quarter-on-quarter growth, comparing the first quarter of 2010 with the same period in 2009.

"Until recently, Brazil's economy was only expected to grow slightly in 2010. For the second quarter of 2010 there are already indications of slowdown. The year growth will be high but the rates along the period are decreasing. There was a significant change in economic policy recently, and the State began to drive this growth through new initiatives," said Finance Minister Guido Mantega. He also commented that the country's growth is "well-balanced, with no bubbles."

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Brazil 1q 2010 Gdp Shows Strongest Economic Growth and Investment in 15 Years ; Finance Minister Says 9% Quarter-On-Quarter Gdp Growth Is Well Balanced

According to the Minister, the relatively low debt of Brazil, the burgeoning demand for housing, and planned investments in major infrastructure proje...

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