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UPDATE 1-Mantega foresees Brazil growth above global average
May 27, 2011 / 5:03 PM / 7 years ago

UPDATE 1-Mantega foresees Brazil growth above global average

  
 * Finance Minister says fiscal position is solid
 * Sees growth outpacing global average for years
 * Says recent decline in commodities may not persist
 (Updates with comments, details, background throughout)
 SAO PAULO, May 27 (Reuters) - The Brazilian economy will
keep growing above the global average in coming years thanks to
its solid fiscal position and efforts to keep inflation under
control, Finance Minister Guido Mantega said on Friday.
 Investment flows into Brazil, budget spending prudence and
efforts to tame price increases in some goods and services will
ensure solid growth "for years to come," Mantega said at an
event.
 Brazil needs to lure more capital spending to ensure
sustainable growth around 4.5 percent in the long run.
Investment including inventory changes should grow at least
twice as fast as overall economic growth to keep Brazil free of
inflationary pressures, Mantega said.
 Mantega said recent gains in the Brazilian currency, the
real BRBY, reflect "excess liquidity in global capital and
financial markets." Efforts by policymakers to contain some of
those gains have worked. he added.
 (Reporting by Jose de Castro; Writing by Guillermo
Parra-Bernal; Editing by James Dalgleish)


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