Brazil looking healthy

Brazilian economy is solid and is doing just fine, according to Minister...

Despite the gloom due to the global economic crises, Brazil seems to still present some exciting numbers in its domestic economy.

According to CAGED, the body that has access to formal and informal employment rates, Brazil overcame the target set by the Government of two million for 2008.

According to the research published yesterday, between January to September of this year, Brazil's formal employee number rose to 2.86 million and September saw an increase of 12.61 per cent compared to the same period last year.

With such a diverse mix of cultures and races, the Government has worked with many private cultural organizations to also establish norms that will incentivise cultural groups to join the formal employment market, generating more benefits for those who are still struggling to be recognized as workers.

Brazilian Employment Minister, Carlos Lupi, said, "For much discomfort for global economists, Brazil keeps presenting positive numbers and statistics that show our development."

"Despite speculation from the economic markets, the Brazilian economy is solid and is doing well," he added.

After seeing Bovespa falling seven per cent this week, Brazil still seems to be in a much better position than most countries to deal with the crisis.

Although the global financial set also influences the confidence in the country, Brazil has shown the determination to carry on focusing on the development of its domestic economy and society.

Source: ogloboonline