Brazil’s Ambassador to China, Roberto Jaguaribe, is confident his country’s economy will start expanding again soon, despite current challenges, Chinese state-run broadcaster CCTV reported last week.
The Ambassador acknowledged the South American nation was facing several economic problems.
“Inflation is a challenge – it’s too high and we have to bring it down,” he told CCTV.
“But we are very confident, as in the past, that we are going to overcome the situation and regain our path of sustainable growth,” he remarked.
Last year the Brazilian economy contracted 3.8 percent from the previous year. But the country’s Ministry of Finance said earlier this month that the nation would get back to growth in the fourth quarter this year.
Commenting on Brazil’s recent credit rating downgrade by several international rating agencies, Mr Jaguaribe said: “Brazil has no problems in its external debt… so the issue is little overblown.”
