Palocci: economy will not be affected by present political crisis

21/08/2005 - 15h28

Aloisio Milani and Cecília Jorge
Reporters Agência Brasil

Brasília – During his press conference on Sunday, minister of Finance, Antonio Palocci, was asked if corruption charges made by a former aide could have a negative impact on Brazil's economy. Palocci answered that today's economic agents know the difference between political and economic processes.

"It was not always that way. In the past a political crisis could quickly cause problems in the economic area. But not today because of two reasons. First, our fundamental economic situation is very solid. We have a strong position in foreign trade. In second place, we have a sound democracy in Brazil," declared the minister.

Translator: Allen Bennett