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Brasil's economy is officially booming.
Finance Minister Guido Mantegna (pictured) claims that Brasil’s economic growth is second only to China’s.
It grew 8.4 percent in the first three quarters of 2010 and by 7.5 percent in the 12 months ending Sept. 30 according to government stats. Household consumption climbed 6.9 percent in the first nine months due to income gains and easier credit.
In 2009, its GDP contracted by 0.6 percent.
However, incoming President Dilma Rousseff's dilemma is the soaring value of the real vs the usd which makes exports less competitive.
ALSO NOTED: Prices rose 0.83 percent from October, the biggest increase since April 2005. Inflation expectations for 2011 have accelerated to 5.2 percent, from 4.8 percent in August.
FOR DETAILS, SEE:
http://www.bloomberg.com/news/2010-12-10/brazilian-analysts-wrong-to-predict-tolerance-for-inflation-barbosa-says.html
