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Brazil eyes 1.6 mn new jobs in 2010

January 22nd, 2010

Guido Mantega

The Brazilian economy will grow by 5.2 percent this year which would help create 1.6 million new jobs, an official said.

Brazil’s Finance Minister Guido Mantega Thursday offered the latest forecast in a Cabinet meeting chaired by President Luiz Inacio Lula da Silva.

Mantega raised the forecast for economic growth from five to 5.2 percent. He said 1.6 million new jobs will be created in 2010.

Brazil has already pulled out of the recession caused by global financial crisis and is likely to attract substantial foreign investment in 2010, despite it’s being an election year, Mantega said.

He said domestic demand will grow by 7.3 percent, spurring nearly seven percent increase in Brazilian manufacturing output. Brazil has $241 billion in international reserves.

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