Guido Mantega, the finance minister of Brazil said that the nation is "stronger than ever" despite the global gloom and Brazil is in a more favorable situation than that of the rich countries. The minister claimed the situation in Brazil is under control thanks to a number of counter-cyclical measures taken by the government and domestic market is also growing.
President Luiz Inacio Lula da Silva also confirmed finance minister views and said that Brazil's economy will grow by four per cent in 2009.
Finance minister added that there is no need for an additional package to spur on the economy. There will be a deceleration and once that juncture is passed, Brazil will be in favorable conditions to continue growing. He believes the exchange rate will continue to move downwards, which could be good news for people buying property in Brazil
Meanwhile, ADIT Nordeste and the tourism ministry took part in an overseas real estate exhibition to show the potential of Brazilian property, reports Homesgofast.com.
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