Brazilian President Luiz Inacio Lula da Silva said Monday that the worst part of the economic crisis has passed and the country already shows "extraordinary" signs of recovery.

"I believe we have gone through the worst period in October, November, December and January," he said during the inauguration of food company Sadia's new unit in Pernambuco state, northern Brazil.

According to the National Registry of Employed and Unemployed, the number of hirings was 9,100 more than that of dismissals in February, which is considered "an extraordinary sign," he said.

Brazil must not fear the crisis, but work its way through the tough times by making more investments and spending more on infrastructure in order to create jobs, he said.

"If there is a crisis, let it come. We will face it head up high, creating alternatives," he said.

The president also criticized the media coverage on the economic turmoil, which he said was overly pessimistic.

"If I read the newspapers in the morning, I will hide under my bed and will not even feel like going out," he said.

However, a study released Monday by the Brazilian Central Bank struck a less optimistic tone.

The Brazilian economy is expected to see close to zero growth in 2009, instead of two percent estimated by the government, according to the report.

Source: Xinhua