Rio - The president of the Central Bank (BC), Henrique Meirelles, says that the most relevant factor in the country at the moment is that the economy has been growing for 5 consecutive halves.

According to Meirelles, in 2004 the Brazilian economy climibed out of the crisis. He pointed out that growth is now higher than at the beginning of the crisis and is strong because it is being boosted by domestic demand.

"Investments are expanding at a higher rate than products. That leads us to the certainty that growth will continue. Industrial production is at its highest level in history. We have had the biggest expansion of formal market jobs in history," declared Meirelles.

In conclusion, the president of the Central Bank declared that the institution's inflation target system is fundamental for sustainable growth with currency stability.

Agência Brasil
Reporter: Cristina Indio do Brasil
Translator: Allen Bennett
08/09/2004