Brazilian government remains optimistic
The Brazilian government has insisted that no drastic measures are needed to tackle the global financial crisis.
President Luiz Inacio Lula da Silva stated that Brazil is relatively well-placed to withstand the current turbulence in the worldwide economy, reports Xinhua.
As a result, he does not believe he will be required to take any desperate steps to mitigate its impact on the South American nation.
President Lula said: "The crisis was born in richer countries, and the most tranquil ones at this moment are emerging countries."
He added that the government will press on with its various capital intensive projects, such as infrastructure upgrades and social programmes.
Indeed, he also predicted that the Brazilian economy would continue to experience growth during the foreseeable future.
This comes after governments across the world, including those in the UK and the US, injected public funds into the faltering banking sector.
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