Brazils economy continues to grow-010808

Global economic pressures do not appear to be inhibiting growth in Brazil, according to a media outlet.

Newsweek praised for the South American nation for its reliance in the face of a downturn in other major economies, as it is continuing to perform strongly.

The news provider said Brazil currently has a relatively low rate of inflation, especially when compared with other emerging markets.

This, it stated, means that its economy is accelerating without overheating.

In addition, the website said the country's wealth in natural resources is helping to support sectors such as its export industry.

Commenting on the state of the market, Newsweek remarked: "The spectre of global stagflation looms, but in Brazil, things couldn't be better."

The online portal added that Brazil is now a rare example of relative stability and prosperity.

Meanwhile, President Lula da Silver has said the country's economy is showing strength and sustainability.

Speaking in his weekly broadcast to the nation, he said Brazil's gross domestic product is likely to keep increasing.

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