Brazilian President Luiz Inacio Lula da Silva said Sunday Brazil was not at risk despite the global financial crisis, but it should still "pay attention to" it.
The spreading U.S. crisis "has already consumed 850 billion U.S. dollars ... We should pay attention to the development of the crisis," Lula said after casting ballots in municipal elections in the country.
The Brazilian economy is functioning properly, said the president, adding that state-owned oil firm Petrobras, and projects on housing and infrastructure construction and urbanization of the poor districts all remained unaffected.
"We know how to deal with the crisis, because we have taken preventive measures... We made the homework at home when it was necessary and now we have reserves for this and other crises," he said.
"What we should do is to supervise the financial system in Brazil and avoid any possible crisis in the future," he added.
Source: Xinhua
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