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Brazil's GDP Grows 5.4% While Investments Jump 13%
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Job Market Grows 5% in Brazil
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Brazil Industry Loses Steam
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Brazil Sees 5,3% Growth with Domestic Market Making Up for Export Losses
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600 Pages of Suggestions on How to Improve Brazil's Service Sector
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Brazilian Finance Minister Compares Global Crisis to 1929 Crash
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Half of Brazilians Are Middle Class, Finance Minister Announces
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UN Hints Brazil May Grow a Mere 0.5% in 2009
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Lula Still Hopeful Brazil Will Grow 4% in 2009
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JPMorgan: Brazil Is in Recession and Will Grow Mere 1.5% This Year
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After Zero or Negative Growth Brazil to Expand 4%, Says Veteran Guru
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Brazil Finally Admits It Might Get Stuck on Zero GDP Growth in 2009
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Latest Revised Official Numbers See Brazil Growing a Mere 1% in 2009
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Thanks to Auto-Industry Brazil Grows 0.3% in June
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Brazil's GDP Grows 1.9% Compared to First Quarter
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Brazilians' Buying Spree Yanked Brazil Out of Recession
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For Economist Brazil Is Controlling Inflation But Not Fostering Growth
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2009 Brazil GDP Grows 0.01% and Industry Contracts 7.5%, Say Markets
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IMF Revises Forecast and Says Brazil in 2010 Will Grow Over 3.5%
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Sachs: Brazil Can Grow 5% a Year, But It Needs More |
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Written by Priscilla Mazenotti
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Saturday, 30 April 2005 |
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Jeffrey Sachs, director of the United Nation's Project of the Millenium, affirmed yesterday that Brazil has paid a high price for years of economic instability, but he pointed out that the country is capable of growing 5% per year.
The American economist said that, overall, Brazil paid a price for its unstable past. "And we witnessed this when there was a panic on the international market in consequence of Brazil's country risk premium during the presidential elections."
According to Sachs, the reason that this occurred was the country's long history of instability.
"I think that Brazil acted correctly in that context. Containing the panic was what mattered most. If you compare the situation several years ago with the present, there has been significant development, since the government has demonstrated calm instead of panic," he emphasized.
Although he believes that Brazil could grow at an annual rate of 5%, Sachs underscored that economic growth alone will not resolve the problem of poverty.
"Poverty also demands government investment. Growth is not enough. It has necessary to have growth together with government investment," he said.
ABr
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going to, i would like to say that i agree 100% with jeffrey
and what he's doing is wonderful.