RIO DE JANEIRO, Aug. 24 (Xinhua) -- Brazilian Finance Minister Guido Mantega Monday expressed optimism on his country's economic future, saying the country recovered quicker from the global financial crisis than many other countries.

    The minister said the good situation of the Brazilian economy was due to its low inflation rate, decreasing public deficit and good trade balance.

    Mantega said Brazil's economy started growing again, after two consecutive quarters of shrinking.

    "I would risk saying that we are on the threshold of a new cycle of economic growth," said the minister.

    Mantega added that the government managed to take anti-cyclic measures and did not have to spend much on them. The 0.8 percent of GDP the government spent on stimulus measures is much lower than that of many other countries.

    The minister also stated that Brazil would have a 2.2 or 2.3 percent fiscal deficit in 2009, the lowest among all G20 countries.

Special Report:  Global Financial Crisis