Brazil s economy grew at an annualised rate of +8% in Q3 2009 according to the finance minister Guido Mantega, and no change is expected in Q4.

He stated at a meeting of the Council for Economic and Social Development that this result has led the Government to forecast positive growth for all of 2009. Growth of +5% is expected in 2010 with similar levels expected up to at least 2014. Brazils economy had an average annual growth of +4.2% during the period of 2003-08.

Mantega stated the strong performance of the domestic market has allowed the Brazilian economy to bounce back quickly after feeling the effects of the global crisis in late 2008.

He continued that +5% growth in investment is assured just with the public works needed in preparation for the 2014 soccer World Cup and the 2016 Summer Games in Rio de Janeiro
A new package of economic-stimulus measures was also announced, the core of the package is 1.5bn Reais (US$870m) in tax exemptions and reductions similar to those instituted this year to bolster the automotive sector, which ended 2009 with record output and sales.