Brazil & Southern Cone - June 2009 (ISSN 1741-4431)

ECONOMY: Treading water

On 28 May the finance minister, Guido Mantega, revised his forecast for real annual GDP growth in 2010 from 4.5% to 3%-4%. The downgrade came days after the strongest index of consumer confidence figure from the Fundação Getúlio Vargas since September 2008, before the global financial crisis struck.

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