At the end of the current year Brazil’s GDP will rank sixth in the world and for the first time ahead of Britain’s GDP, according to the Sao Paulo media based on reports from IMF and private consultants.
Latin American policy makers must be prepared to use interest rate cuts and consider fiscal measures to protect their economies in the event that the global economy stalls, the International Monetary Fund said.
Brazil's first quarter GDP grew 1.3% compared to the previous quarter – an annualized rate of over 5% – and 4.2% against the first quarter of 2010 revealed on Friday the Brazilian government.
Brazil announced Thursday it has become the world’s seventh economy after having expanded 7.5% in 2010, the strongest in 24 years. Brazil’s GDP now stands at 2.1 trillion US dollars with a per capita income of 11.185 USD.