Brazil urged to work hard against worsening global economic crisis

The Brazilian government must work hard to strengthen the country's economy so that it can withstand a worsening global scenario, Finance Minister Guido Mantega said Thursday. Despite poor growth perspectives for the global economy, Brazil will not be facing a "lost decade," Mantega said when attending a function here. "It is possible that developed countries will have a 'lost decade,' but I guarantee you that Brazil will not have one, because we have all the conditions to neutralize the effects of this crisis," the minister said. "We need to take measures to strengthen Brazil and to maintain a solid fiscal situation," he said. Mantega reaffirmed that tackling the crisis, which has swept developed nations, will be difficult, since problems get more and more serious. However, he believed developed countries would eventually find a solution to the turmoil. "They will end up solving this situation, but we must prepare for low growth rates for many years," he said.